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

Workday Inc (NASDAQ:WDAY) was the target of unusually large options trading on Tuesday. Stock investors purchased 34,003 call options on the stock. This represents an increase of 1,174% compared to the typical volume of 2,670 call options.

Shares of NASDAQ:WDAY opened at $205.97 on Wednesday. The firm’s fifty day moving average price is $213.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.09 and a current ratio of 1.09. Workday has a 12-month low of $117.72 and a 12-month high of $226.83. The firm has a market cap of $48.79 billion, a P/E ratio of -168.83 and a beta of 1.56.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The firm had revenue of $825.10 million for the quarter, compared to analyst estimates of $814.21 million. During the same period last year, the firm earned $0.33 earnings per share. Workday’s revenue for the quarter was up 33.2% compared to the same quarter last year. Analysts expect that Workday will post -1.06 EPS for the current year.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $193.14, for a total value of $57,942,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Duffield sold 1,054 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $205.21, for a total value of $216,291.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 757,346 shares of company stock valued at $154,821,963. Insiders own 29.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Workday by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 123,024 shares of the software maker’s stock valued at $19,646,000 after acquiring an additional 7,353 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Workday by 100.3% in the fourth quarter. Millennium Management LLC now owns 81,476 shares of the software maker’s stock valued at $13,010,000 after purchasing an additional 40,805 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Workday by 56.9% in the fourth quarter. APG Asset Management N.V. now owns 92,111 shares of the software maker’s stock valued at $12,866,000 after purchasing an additional 33,400 shares in the last quarter. Norges Bank acquired a new position in shares of Workday in the fourth quarter valued at approximately $198,900,000. Finally, American Century Companies Inc. acquired a new position in shares of Workday in the fourth quarter valued at approximately $132,247,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

A number of equities research analysts have weighed in on WDAY shares. Canaccord Genuity cut their target price on Trican Well Service from C$1.70 to C$1.55 in a research report on Wednesday, May 29th. KeyCorp reaffirmed a “buy” rating and issued a $235.00 price target on shares of Workday in a report on Wednesday, May 22nd. Northland Securities reaffirmed a “hold” rating and issued a $240.00 price target on shares of Workday in a report on Tuesday, May 28th. BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley upped their price target on Workday from $200.00 to $219.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Five analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Workday has an average rating of “Hold” and an average price target of $206.32.

Workday Company Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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