Workday, Inc. (NASDAQ:WDAY) Sees Significant Increase in Short Interest

Workday, Inc. (NASDAQ:WDAY) was the target of a significant increase in short interest in 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 short-interest ratio is currently 3.3 days.

Insider Transactions at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the company’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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WDAY. Crews Bank & Trust purchased a new stake in shares of Workday during the fourth quarter worth $26,000. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth about $25,000. Avion Wealth grew its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Workday in the 3rd quarter valued at about $26,000. Finally, Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WDAY shares. Wells Fargo & Company raised their target price on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, November 25th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Stock Up 0.8 %

Shares of NASDAQ WDAY opened at $262.06 on Friday. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34. The company’s 50-day simple moving average is $261.18 and its 200-day simple moving average is $248.68. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.47 EPS. Workday’s revenue was up 15.8% compared to the same quarter last year. Equities analysts predict that Workday will post 2.63 EPS for the current fiscal 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.