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

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

Workday Trading Down 2.0 %

Shares of Workday stock traded down $5.33 on Thursday, reaching $260.07. 1,348,252 shares of the company's stock were exchanged, compared to its average volume of 2,003,023. The company has a market capitalization of $69.18 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. Workday has a 52 week low of $199.81 and a 52 week high of $311.28. 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 firm's 50-day moving average is $261.34 and its two-hundred day moving average is $248.60.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Workday's revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Workday will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WDAY shares. Piper Sandler reiterated a "neutral" rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price target on shares of Workday in a research note on Monday, November 25th. Barclays reduced their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Finally, Citigroup lowered their target price on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.25.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares of the company's stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last ninety days. Corporate insiders own 20.00% of the company's stock.

Institutional Trading of Workday

Large investors have recently made changes to their positions in the company. Roxbury Financial LLC bought a new position in Workday in the fourth quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of Workday during the third quarter worth approximately $26,000. Crews Bank & Trust bought a new position in shares of Workday in the 4th quarter worth $26,000. Avion Wealth grew its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Workday by 42.2% during the 3rd 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 in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.