Banque Pictet & Cie SA Purchases 4,391 Shares of Workday, Inc. (NASDAQ:WDAY)

Banque Pictet & Cie SA raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 95,647 shares of the software maker's stock after purchasing an additional 4,391 shares during the quarter. Banque Pictet & Cie SA's holdings in Workday were worth $24,680,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Workday during the third quarter valued at approximately $26,000. Crews Bank & Trust bought a new stake in shares of Workday in the 4th quarter worth $26,000. Avion Wealth raised its stake in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Finally, New Millennium Group LLC boosted its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock valued at $36,000 after buying an additional 94 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Up 3.0 %

NASDAQ:WDAY traded up $7.67 during midday trading on Tuesday, hitting $265.72. 2,352,505 shares of the company traded hands, compared to its average volume of 2,068,002. The firm has a market capitalization of $70.68 billion, a P/E ratio of 44.07, a P/E/G ratio of 3.78 and a beta of 1.35. The firm's fifty day moving average is $261.69 and its 200-day moving average is $252.05. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. 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 (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and raised their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Bank of America decreased their target price on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Finally, Loop Capital dropped their price target on Workday from $270.00 to $242.00 and set a "hold" rating on the stock in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $292.43.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares of the company's stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last 90 days. Company insiders own 20.00% of the company's stock.

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.