Workday Target of Unusually High Options Trading (NASDAQ:WDAY)

Workday, Inc. (NASDAQ:WDAY) was the recipient of unusually large options trading activity on Tuesday. Traders bought 14,820 call options on the stock. This is an increase of 91% compared to the typical volume of 7,739 call options.

Analyst Ratings Changes

Several research firms recently commented on WDAY. DA Davidson boosted their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Loop Capital boosted their target price on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Morgan Stanley cut their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Citigroup lowered their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $289.46.

Workday Trading Up 0.9 %

NASDAQ:WDAY opened at $270.19 on Wednesday. The firm has a market capitalization of $71.60 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day moving average price of $248.52 and a 200-day moving average price of $237.21. Workday has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Sell-side analysts forecast that Workday will post 2.4 EPS for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares in the company, valued at $68,004,810. This trade represents a 16.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,954 shares of company stock valued at $88,742,132. Company insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp raised its holdings in Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after acquiring an additional 925,366 shares during the period. Two Sigma Advisers LP lifted its position in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Workday during the 3rd quarter valued at approximately $78,003,000. 89.81% of the stock is currently owned by institutional investors.

About Workday

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.