Workday, Inc. (NASDAQ:WDAY) Short Interest Update

Workday, Inc. (NASDAQ:WDAY) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 10,520,000 shares, a growth of 81.4% from the December 15th total of 5,800,000 shares. Based on an average trading volume of 3,160,000 shares, the short-interest ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Royal Bank of Canada raised their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, September 19th. Citigroup decreased their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Finally, Loop Capital decreased their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Stock Up 1.0 %

WDAY opened at $248.57 on Thursday. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a 50 day moving average price of $262.75 and a 200 day moving average price of $246.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $66.12 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (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 analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Sell-side analysts expect that Workday will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter worth about $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Workday during the 2nd quarter valued at $35,000. Meeder Asset Management Inc. lifted its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. New Millennium Group LLC boosted its holdings in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the period. Finally, True Wealth Design LLC boosted its stake in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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.