Bank Pictet & Cie Europe AG Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bank Pictet & Cie Europe AG lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,075 shares of the software maker’s stock after acquiring an additional 595 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Workday were worth $793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. KBC Group NV lifted its stake in shares of Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares during the period. Janus Henderson Group PLC boosted its position in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Workday in the 3rd quarter worth approximately $78,003,000. Finally, Lindbrook Capital LLC grew its stake in Workday by 17,001.6% in the 3rd quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after acquiring an additional 284,266 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WDAY shares. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.43.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday Stock Down 0.8 %

Shares of NASDAQ:WDAY opened at $258.05 on Friday. The firm has a market cap of $68.64 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The company has a fifty day simple moving average of $262.30 and a 200 day simple moving average of $251.24. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.