Workday, Inc. (NASDAQ:WDAY) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,086,818 shares of the software maker's stock after selling 65,393 shares during the period. Pictet Asset Management Holding SA owned 0.78% of Workday worth $538,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC lifted its holdings in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares during the period. Sanctuary Advisors LLC lifted its stake in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock worth $7,934,000 after acquiring an additional 1,978 shares during the period. Nordea Investment Management AB grew its holdings in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after acquiring an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in Workday during the 4th quarter valued at about $369,000. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Workday by 387.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker's stock valued at $86,926,000 after purchasing an additional 282,632 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Scotiabank reduced their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada raised their price objective on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $300.18.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 70,144 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This trade represents a 40.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 431,145 shares of company stock valued at $108,631,438 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

NASDAQ:WDAY traded down $4.75 during trading hours on Monday, reaching $233.74. The company had a trading volume of 2,309,800 shares, compared to its average volume of 2,522,347. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The business's 50 day moving average price is $256.67 and its 200-day moving average price is $254.82. The firm has a market cap of $62.18 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

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.