Traders Buy High Volume of Workday Call Options (NASDAQ:WDAY)

Posted by Defense World Staff on Apr 13th, 2023

Workday, Inc. (NASDAQ:WDAY – Get Rating) saw unusually large options trading activity on Wednesday. Stock traders acquired 8,745 call options on the stock. This represents an increase of 13% compared to the average volume of 7,743 call options.

Analysts Set New Price Targets

WDAY has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Workday from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Mizuho boosted their price objective on shares of Workday from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Robert W. Baird cut their price objective on shares of Workday from $223.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Piper Sandler boosted their price objective on shares of Workday from $184.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 28th. Finally, Citigroup boosted their price objective on shares of Workday from $185.00 to $203.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.19.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 266 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $191.44, for a total transaction of $50,923.04. Following the transaction, the insider now directly owns 129,802 shares in the company, valued at approximately $24,849,294.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Robinson sold 266 shares of Workday stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $191.44, for a total transaction of $50,923.04. Following the completion of the sale, the insider now owns 129,802 shares of the company’s stock, valued at approximately $24,849,294.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $183.34, for a total transaction of $916,700.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $916,700. The disclosure for this sale can be found here. Insiders have sold 43,469 shares of company stock worth $8,469,440 in the last ninety days. Insiders own 21.74% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AllSquare Wealth Management LLC acquired a new position in Workday in the 3rd quarter valued at approximately $25,000. Elequin Securities LLC bought a new position in Workday during the fourth quarter worth $27,000. Guardian Wealth Advisors LLC bought a new position in Workday during the third quarter worth $29,000. Whittier Trust Co. raised its stake in Workday by 69.0% during the third quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock worth $32,000 after buying an additional 87 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in Workday during the fourth quarter worth $38,000. 66.98% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 2.2 %

Shares of NASDAQ WDAY opened at $191.74 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 1.75. Workday has a 52-week low of $128.72 and a 52-week high of $230.94. The firm has a 50 day moving average price of $189.49 and a two-hundred day moving average price of $169.82. The stock has a market cap of $49.66 billion, a P/E ratio of -133.15, a price-to-earnings-growth ratio of 18.72 and a beta of 1.28.

Workday (NASDAQ:WDAY – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The software maker reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue was up 19.6% on a year-over-year basis. As a group, equities analysts forecast that Workday will post 0.44 EPS for the current year.

About Workday

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.