Traders Purchase Large Volume of Call Options on Workday (WDAY)

Workday Inc (NASDAQ:WDAY) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 10,883 call options on the company. This is an increase of approximately 958% compared to the typical daily volume of 1,029 call options.

In other Workday news, insider Mark S. Peek sold 17,916 shares of Workday stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $112.02, for a total transaction of $2,006,950.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robynne Sisco sold 5,061 shares of Workday stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $110.53, for a total transaction of $559,392.33. The disclosure for this sale can be found here. Insiders sold a total of 1,197,306 shares of company stock worth $126,753,397 in the last three months. 37.71% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its position in Workday by 15.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock valued at $149,000 after acquiring an additional 201 shares in the last quarter. Advisor Group Inc. grew its position in Workday by 22.5% in the 2nd quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock valued at $123,000 after acquiring an additional 236 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Workday by 6.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,862 shares of the software maker’s stock valued at $763,000 after acquiring an additional 464 shares in the last quarter. EFG Asset Management Americas Corp. grew its position in Workday by 10.4% in the 4th quarter. EFG Asset Management Americas Corp. now owns 5,263 shares of the software maker’s stock valued at $535,000 after acquiring an additional 495 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in Workday by 6.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 8,187 shares of the software maker’s stock valued at $863,000 after acquiring an additional 498 shares in the last quarter. 66.89% of the stock is owned by institutional investors.

Shares of Workday (NASDAQ WDAY) traded up $4.08 on Wednesday, reaching $120.71. 1,417,624 shares of the company traded hands, compared to its average volume of 1,606,633. The stock has a market cap of $24,282.30, a price-to-earnings ratio of -73.60 and a beta of 2.01. Workday has a 12-month low of $80.61 and a 12-month high of $121.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.11 and a current ratio of 2.11.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Wednesday, November 29th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The firm had revenue of $555.40 million for the quarter, compared to analyst estimates of $541.05 million. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. Workday’s revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. research analysts anticipate that Workday will post -1.1 earnings per share for the current year.

Several equities research analysts have issued reports on the stock. Needham & Company LLC raised shares of Workday from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday. BidaskClub raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Cleveland Research assumed coverage on shares of Workday in a research note on Wednesday, January 31st. They set a “buy” rating on the stock. Guggenheim reaffirmed a “hold” rating and set a $106.00 target price on shares of Workday in a research note on Thursday, January 11th. Finally, Morgan Stanley raised shares of Workday from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $108.00 to $145.00 in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eighteen have issued a buy rating to the company. Workday has an average rating of “Hold” and an average target price of $107.52.

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About Workday

Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.

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