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

Workday, Inc. (NASDAQ:WDAY) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 9,170,000 shares, a drop of 12.8% from the December 31st total of 10,520,000 shares. Based on an average trading volume of 3,270,000 shares, the short-interest ratio is presently 2.8 days.

Workday Price Performance

Shares of WDAY opened at $262.06 on Friday. The company’s 50-day moving average is $261.07 and its 200-day moving average is $248.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $69.71 billion, a PE ratio of 43.46, a PEG ratio of 4.79 and a beta of 1.34. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating 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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Equities analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was 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 approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 over the last 90 days. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares in the last quarter. State Street Corp boosted its holdings in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC grew its position in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Citigroup decreased their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Company Profile

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.