Banque Pictet & Cie SA Has $18.51 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Banque Pictet & Cie SA lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 79,269 shares of the software maker's stock after selling 16,378 shares during the period. Banque Pictet & Cie SA's holdings in Workday were worth $18,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Simplicity Wealth LLC raised its position in Workday by 3.0% in the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after purchasing an additional 37 shares in the last quarter. AllSquare Wealth Management LLC raised its stake in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock worth $65,000 after acquiring an additional 41 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Workday by 15.2% in the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock worth $745,000 after purchasing an additional 43 shares during the last quarter. Finally, Salvus Wealth Management LLC lifted its holdings in Workday by 2.8% during the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after purchasing an additional 45 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 73,971 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total value of $17,653,918.86. Following the completion of the transaction, the insider directly owned 102,997 shares of the company's stock, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,003 shares of company stock worth $61,713,656 over the last 90 days. Company insiders own 19.31% of the company's stock.

Workday Stock Down 3.5%

Shares of WDAY traded down $8.36 during midday trading on Thursday, hitting $231.82. The stock had a trading volume of 2,272,625 shares, compared to its average volume of 2,472,404. The firm has a market cap of $61.89 billion, a price-to-earnings ratio of 128.00, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. The company has a 50 day simple moving average of $249.15 and a two-hundred day simple moving average of $249.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 earnings per share. On average, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Westpark Capital increased their target price on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Finally, Scotiabank dropped their price objective on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Company 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.