213,618 Workday, Inc. $WDAY Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Workday stake by 7.6%, buying 213,618 shares in the third quarter to hold 3.03 million shares valued at about $577.6 million.
• Major shareholder David Duffield sold 100,780 shares, and Workday insiders sold nearly 988,000 shares worth about $188.8 million over the past 90 days.
• Workday beat quarterly earnings expectations, reporting $2.75 per share and $2.65 billion in revenue, up 12.8% year over year. Analysts’ consensus rating was “Hold,” with an average price target of $202.10.

Pictet Asset Management Holding SA raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,033,026 shares of the software maker's stock after purchasing an additional 213,618 shares during the quarter. Pictet Asset Management Holding SA owned 1.26% of Workday worth $577,639,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. CoreCap Advisors LLC raised its position in Workday by 55.9% in the 3rd quarter. CoreCap Advisors LLC now owns 173 shares of the software maker's stock worth $33,000 after buying an additional 62 shares during the last quarter. Signature Equity Partners LLC raised its position in Workday by 350.0% in the third quarter. Signature Equity Partners LLC now owns 198 shares of the software maker's stock worth $38,000 after acquiring an additional 154 shares during the period. Western Wealth Management LLC purchased a new position in Workday during the first quarter valued at $39,000. Manning & Napier Advisors LLC purchased a new position in shares of Workday during the 2nd quarter valued at about $42,000. Finally, Provenance Wealth Advisors LLC raised its stake in Workday by 388.9% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 220 shares of the software maker's stock worth $42,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In other Workday news, major shareholder David Duffield sold 100,780 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $19,501,296.36. This represents a 48.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 988,104 shares of company stock valued at $188,811,574 over the last ninety days. Insiders own 18.64% of the company's stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $192.90 on Friday. The firm's 50 day simple moving average is $194.33 and its 200-day simple moving average is $156.48. The firm has a market cap of $46.49 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. Workday, Inc. has a one year low of $110.36 and a one year high of $236.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. Workday's revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. As a group, equities analysts predict that Workday, Inc. will post 5.32 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of several analyst reports. Citigroup reaffirmed a "neutral" rating and set a $201.00 price target (up from $139.00) on shares of Workday in a report on Tuesday, October 6th. Weiss Ratings raised shares of Workday from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 18th. KeyCorp cut Workday from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 15th. DA Davidson upped their price target on shares of Workday from $135.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $205.00 price objective (down from $220.00) on shares of Workday in a research note on Wednesday, September 30th. Twenty-two research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $202.10.

Workday Company Profile

Workday, Inc develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting.

Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.

Carl Eschenbach is Workday's chief executive officer, and co-founder Aneel Bhusri serves as executive chair.

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