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

Pictet Asset Management Holding SA grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,803,568 shares of the software maker’s stock after buying an additional 223,493 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Workday were worth $364,217,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WDAY. Finivi Inc. lifted its holdings in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after acquiring an additional 48 shares in the last quarter. Strategic Investment Advisors MI raised its position in Workday by 1.6% in the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after purchasing an additional 50 shares during the period. Sagespring Wealth Partners LLC lifted its stake in shares of Workday by 3.0% during the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock worth $441,000 after purchasing an additional 59 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Workday by 35.3% in the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock worth $53,000 after buying an additional 65 shares during the period. Finally, Aspire Private Capital LLC boosted its holdings in Workday by 1.3% in the 4th quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker’s stock worth $1,194,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 1,585 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $113.05, for a total transaction of $179,184.25. Following the completion of the transaction, the chief accounting officer owned 31,467 shares of the company’s stock, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,373 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the transaction, the insider directly owned 165,414 shares of the company’s stock, valued at $21,406,225.74. The trade was a 3.15% decrease in their ownership of the stock. 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. Insiders sold a total of 774,814 shares of company stock valued at $99,846,591 in the last three months. 18.64% of the stock is owned by corporate insiders.

Workday Stock Performance

Workday stock opened at $124.21 on Friday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a fifty day moving average price of $127.46 and a two-hundred day moving average price of $153.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $30.68 billion, a PE ratio of 38.82, a P/E/G ratio of 1.33 and a beta of 1.09.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 EPS. Research analysts expect that Workday, Inc. will post 5.34 earnings per share for the current year.

Workday News Roundup

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.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Wells Fargo & Company raised their price target on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. KeyCorp lifted their price target on shares of Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Oppenheimer reissued an “outperform” rating on shares of Workday in a research report on Thursday, June 11th. Finally, BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Workday in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

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.