Bank Pictet & Cie Europe AG Grows Position in Workday, Inc. (NASDAQ:WDAY)

Bank Pictet & Cie Europe AG boosted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 679.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,963 shares of the software maker's stock after acquiring an additional 20,888 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Workday were worth $5,596,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in Workday in the fourth quarter worth $25,000. TCTC Holdings LLC purchased a new position in Workday in the fourth quarter worth $35,000. Farmers & Merchants Investments Inc. purchased a new position in Workday in the first quarter worth $32,000. Rakuten Securities Inc. raised its position in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Down 2.5%

WDAY opened at $244.54 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $65.29 billion, a P/E ratio of 40.55, a PEG ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The business's fifty day simple moving average is $245.50 and its 200 day simple moving average is $252.46.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company earned $1.74 EPS. The firm's quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director now directly owns 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,666 shares of company stock valued at $38,465,025. Insiders own 19.31% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on WDAY shares. JPMorgan Chase & Co. cut their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. UBS Group raised their price target on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and issued a $340.00 price target on shares of Workday in a research report on Friday, May 23rd. Loop Capital dropped their price target on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Finally, Stifel Nicolaus dropped their price target on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Profile

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.

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