Workday, Inc. (NASDAQ:WDAY) Short Interest Up 81.4% in January

Workday, Inc. (NASDAQ:WDAY) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 10,520,000 shares, an increase of 81.4% from the December 31st total of 5,800,000 shares. Based on an average daily volume of 3,160,000 shares, the days-to-cover ratio is currently 3.3 days.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % 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 in the last quarter. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently bought and sold shares of WDAY. Two Sigma Advisers LP lifted its position in Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the period. KBC Group NV raised its stake in shares of Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after buying an additional 506,812 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Workday in the third quarter valued at $78,003,000. Finally, Lindbrook Capital LLC boosted its stake in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after buying an additional 284,266 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Barclays decreased their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Loop Capital lowered their price objective on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $265.40 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $261.22 and its two-hundred day moving average is $248.48. The firm has a market capitalization of $70.60 billion, a P/E ratio of 44.01, a PEG 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.

Workday (NASDAQ:WDAY) last announced its 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 return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts anticipate that Workday will post 2.63 earnings per share for the current year.

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.