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

Banque Pictet & Cie SA reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other large investors have also recently added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC grew its holdings in Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after acquiring an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Workday during the 1st quarter worth $32,000. TCTC Holdings LLC purchased a new position in Workday during the 4th quarter worth $35,000. Financial Management Professionals Inc. raised its position in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after buying an additional 54 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the sale, the insider owned 102,997 shares in the company, valued at approximately $24,581,264.02. This represents a 41.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 328,554 shares of company stock worth $79,097,601. 19.31% of the stock is owned by insiders.

Workday Stock Down 2.6%

Shares of NASDAQ:WDAY traded down $5.93 during midday trading on Friday, reaching $223.37. The company had a trading volume of 2,494,795 shares, compared to its average volume of 2,485,606. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The stock's fifty day moving average price is $248.29 and its 200-day moving average price is $248.37. The stock has a market capitalization of $59.64 billion, a P/E ratio of 123.41, a PEG ratio of 3.37 and a beta of 1.21. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

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. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WDAY shares. Westpark Capital increased their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Piper Sandler reissued an "underweight" rating and issued a $235.00 target price (down from $255.00) on shares of Workday in a research report on Thursday. Citigroup cut shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Workday from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Wells Fargo & Company decreased their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $296.88.

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.