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

Workday, Inc. (NASDAQ:WDAY) saw unusually large options trading on Tuesday. Investors acquired 14,820 call options on the company. This represents an increase of approximately 91% compared to the typical daily volume of 7,739 call options.

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC boosted its stake in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP purchased a new position in Workday in the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its position in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Atria Investments Inc raised its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after purchasing an additional 7,175 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Stock Up 0.9 %

Workday stock traded up $2.46 during mid-day trading on Tuesday, hitting $270.15. The company had a trading volume of 1,118,652 shares, compared to its average volume of 2,092,386. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. 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’s 50 day moving average price is $248.08 and its two-hundred day moving average price is $237.05. The company has a market capitalization of $71.59 billion, a PE ratio of 46.64, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Analyst Ratings Changes

A number of analysts have weighed in on WDAY shares. Wells Fargo & Company increased their target price 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. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Morgan Stanley cut their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. KeyCorp lifted their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $289.46.

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.