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

Workday, Inc. (NASDAQ:WDAY) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 14,820 call options on the company. This is an increase of 91% compared to the average volume of 7,739 call options.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock valued at $88,742,132 over the last ninety days. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Workday during the 3rd quarter worth about $26,000. SouthState Corp lifted its stake in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Crewe Advisors LLC boosted its holdings in Workday by 56.6% in the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Workday in the second quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. raised its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 6.2 %

NASDAQ:WDAY opened at $253.40 on Thursday. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $67.15 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $248.62 and a 200 day moving average price of $237.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that Workday will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Friday, September 13th. KeyCorp boosted their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Piper Sandler reissued a “neutral” rating and issued a $270.00 price target (down previously from $285.00) on shares of Workday in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

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.