Pictet Asset Management Holding SA Grows Position in Workday, Inc. $WDAY

Pictet Asset Management Holding SA increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,803,568 shares of the software maker’s stock after purchasing an additional 223,493 shares during the quarter. Pictet Asset Management Holding SA owned 1.09% of Workday worth $364,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Rakuten Securities Inc. acquired a new stake in shares of Workday during the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday in the third quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in shares of Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC purchased a new stake in shares of Workday in the 4th quarter valued at $27,000. Finally, LRI Investments LLC acquired a new position in Workday during the 4th quarter worth about $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the sale, the chief financial officer owned 217,930 shares in the company, valued at approximately $27,942,984.60. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 774,814 shares of company stock worth $99,846,591. 18.64% of the stock is currently owned by corporate insiders.

More Workday News

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors appear to be re-rating Workday after its latest quarterly results showed solid revenue growth, stronger-than-expected earnings, and an increased full-year operating margin outlook, reinforcing confidence in the company’s execution and demand trends.
• Positive Sentiment: Workday’s AI and data-platform efforts are helping sentiment, including its AWS Data Cloud integration and broader AI product push, which may support future growth as enterprises spend more on AI-enabled software.
• Positive Sentiment: A market rotation into software has also lifted shares, with investors favoring names like Workday over semiconductors in the latest move across the market.
• Positive Sentiment: Wall Street sentiment has improved, highlighted by Monness Crespi & Hardt upgrading Workday to buy with a $150 price target, adding to a generally constructive analyst backdrop.
• Neutral Sentiment: Recent insider selling by major shareholder David Duffield was disclosed under a pre-arranged trading plan, which may limit its significance for day-to-day trading but is still something investors may watch.
• Negative Sentiment: Workday continues to face a lawsuit tied to alleged AI bias in job-screening tools, creating a legal overhang that could temper enthusiasm if the case escalates.

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Loop Capital set a $210.00 price target on shares of Workday in a research report on Thursday, March 12th. Citigroup restated a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. HC Wainwright set a $140.00 price objective on Workday in a research report on Wednesday, May 27th. Finally, BTIG Research reiterated a “buy” rating and issued a $175.00 target price on shares of Workday in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.00.

Workday Stock Performance

Shares of WDAY stock opened at $124.21 on Friday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The stock has a market capitalization of $30.68 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $127.46 and its 200 day moving average price is $153.11.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts forecast that Workday, Inc. will post 5.34 EPS for the current year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.