Workday, Inc. (NASDAQ:WDAY) Sees Large Growth in Short Interest

Workday, Inc. (NASDAQ:WDAY) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 15,643,040 shares, a growth of 20.4% from the February 12th total of 12,987,717 shares. Based on an average daily trading volume, of 7,111,798 shares, the days-to-cover ratio is presently 2.2 days. Approximately 7.4% of the shares of the company are short sold. Approximately 7.4% of the shares of the company are short sold. Based on an average daily trading volume, of 7,111,798 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stifel Nicolaus set a $175.00 price target on shares of Workday in a report on Monday, February 9th. TD Cowen cut shares of Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective for the company. in a report on Wednesday, February 25th. Piper Sandler decreased their price objective on shares of Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Sanford C. Bernstein lowered their target price on shares of Workday from $298.00 to $214.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group cut Workday from a “buy” rating to a “hold” rating and dropped their target price for the company from $325.00 to $150.00 in a research report on Monday, February 23rd. Nineteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.71.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $210.00, for a total transaction of $237,300.00. Following the sale, the insider directly owned 85,398 shares in the company, valued at $17,933,580. The trade was a 1.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 529,362 shares of company stock valued at $89,425,451 over the last 90 days. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday in the third quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in shares of Workday in the fourth quarter worth about $27,000. LRI Investments LLC purchased a new position in shares of Workday in the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday during the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ:WDAY opened at $133.63 on Tuesday. The stock has a 50 day moving average of $163.16 and a two-hundred day moving average of $205.15. Workday has a 12 month low of $117.76 and a 12 month high of $276.00. The firm has a market cap of $34.34 billion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. On average, analysts expect that Workday will post 2.63 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.