Pictet Asset Management SA boosted its holdings in Workday, Inc. (NASDAQ:WDAY – Get Rating) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,814,923 shares of the software maker’s stock after purchasing an additional 91,718 shares during the quarter. Pictet Asset Management SA owned approximately 0.71% of Workday worth $276,268,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of WDAY. AllSquare Wealth Management LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $25,000. Guardian Wealth Advisors LLC bought a new position in shares of Workday during the third quarter worth about $29,000. Whittier Trust Co. increased its holdings in shares of Workday by 69.0% in the 3rd quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock worth $32,000 after acquiring an additional 87 shares during the period. Lindbrook Capital LLC boosted its stake in Workday by 72.6% during the 2nd quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock valued at $35,000 after purchasing an additional 106 shares during the period. Finally, Fieldpoint Private Securities LLC grew its position in Workday by 68.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 252 shares of the software maker’s stock worth $35,000 after purchasing an additional 102 shares during the last quarter. 66.98% of the stock is owned by institutional investors and hedge funds.
Workday Stock Down 0.6 %
NASDAQ WDAY traded down $1.07 during trading on Thursday, reaching $189.86. 250,755 shares of the company’s stock were exchanged, compared to its average volume of 1,897,169. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.55. Workday, Inc. has a fifty-two week low of $128.72 and a fifty-two week high of $250.00. The company’s fifty day simple moving average is $173.66 and its 200-day simple moving average is $160.49. The firm has a market capitalization of $48.79 billion, a PE ratio of -153.98, a P/E/G ratio of 193.35 and a beta of 1.25.
Workday (NASDAQ:WDAY – Get Rating) last posted its quarterly earnings results on Tuesday, November 29th. The software maker reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.18. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Workday had a negative net margin of 5.29% and a negative return on equity of 2.11%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. Sell-side analysts predict that Workday, Inc. will post -0.44 EPS for the current year.
Workday announced that its Board of Directors has initiated a share buyback program on Tuesday, November 29th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on WDAY shares. Macquarie assumed coverage on Workday in a research report on Wednesday, November 2nd. They set a “neutral” rating and a $170.00 price objective for the company. Cowen raised their price target on Workday to $225.00 in a report on Monday, December 12th. Mizuho reduced their price objective on shares of Workday from $220.00 to $200.00 in a report on Wednesday, November 30th. Societe Generale lowered their target price on shares of Workday to $212.00 in a research note on Monday, November 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Workday from $235.00 to $223.00 in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $215.63.
Insider Buying and Selling at Workday
In other news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $169.38, for a total value of $846,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $1,693,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, COO James Bozzini sold 4,389 shares of Workday stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $161.72, for a total value of $709,789.08. Following the completion of the sale, the chief operating officer now directly owns 103,228 shares in the company, valued at $16,694,032.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $169.38, for a total transaction of $846,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $1,693,800. The disclosure for this sale can be found here. Insiders sold 119,548 shares of company stock valued at $20,795,439 in the last quarter. Company insiders own 21.74% of the company’s stock.
Workday Company Profile
Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.