Short Interest in Workday, Inc. (NASDAQ:WDAY) Grows By 81.4%

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

Workday Stock Up 0.0 %

Workday stock opened at $246.03 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a market cap of $65.44 billion, a PE ratio of 40.80, a P/E/G ratio of 5.04 and a beta of 1.34. The stock’s fifty day moving average is $262.75 and its two-hundred day moving average is $246.44.

Workday (NASDAQ:WDAYGet Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. On average, sell-side analysts expect that Workday will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,347 shares of company stock worth $99,225,903. Insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted 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 acquiring an additional 480,459 shares during the period. State Street Corp boosted its stake in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC boosted its stake in shares of Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the period. The Manufacturers Life Insurance Company grew 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 buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Workday by 4.0% in the 3rd 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 acquiring an additional 75,747 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price 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 report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Read Our Latest Research Report on Workday

Workday Company Profile

(Get Free Report)

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.

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