Pictet Asset Management Holding SA Sells 65,393 Shares of Workday, Inc. (NASDAQ:WDAY)

Pictet Asset Management Holding SA reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 2,086,818 shares of the software maker’s stock after selling 65,393 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Workday were worth $538,462,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in Workday by 4.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 81,489 shares of the software maker’s stock valued at $21,027,000 after acquiring an additional 3,333 shares during the period. Norges Bank bought a new stake in Workday in the fourth quarter valued at $645,710,000. NEOS Investment Management LLC grew its holdings in shares of Workday by 105.8% in the 4th quarter. NEOS Investment Management LLC now owns 25,133 shares of the software maker’s stock worth $6,485,000 after purchasing an additional 12,923 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Workday by 68.0% during the fourth quarter. UniSuper Management Pty Ltd now owns 92,542 shares of the software maker’s stock worth $23,879,000 after buying an additional 37,442 shares in the last quarter. Finally, Sava Infond d.o.o. acquired a new stake in Workday during the 4th quarter valued at $4,438,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WDAY shares. Canaccord Genuity Group raised their price objective on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Piper Sandler lifted their price objective on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their target price on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $244.55 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $65.05 billion, a price-to-earnings ratio of 40.56, a P/E/G ratio of 3.55 and a beta of 1.38. The stock’s fifty day moving average price is $256.89 and its two-hundred day moving average price is $254.93.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 487,145 shares of company stock valued at $123,289,438. 20.00% of the stock is currently owned by company insiders.

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.