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

Workday, Inc. (NASDAQ:WDAY) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,900,000 shares, a growth of 21.0% from the March 31st total of 4,050,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of research reports. StockNews.com lowered Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Tuesday, February 27th. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. KeyCorp raised their price target on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Price Performance

NASDAQ WDAY opened at $248.77 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $65.68 billion, a price-to-earnings ratio of 48.30, a PEG ratio of 6.27 and a beta of 1.32. The business has a 50 day simple moving average of $272.42 and a 200 day simple moving average of $264.59. Workday has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. Analysts anticipate that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 in the last 90 days. 21.09% of the stock is owned by company insiders.

Institutional Trading of Workday

Institutional investors have recently modified their holdings of the company. Beacon Capital Management LLC lifted its stake in Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Clear Street Markets LLC bought a new position in Workday in the third quarter valued at $29,000. Exchange Traded Concepts LLC increased its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.