Short Interest in Workday, Inc. (NASDAQ:WDAY) Expands By 21.0%

Workday, Inc. (NASDAQ:WDAY) saw a significant growth in short interest in 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 trading volume of 1,840,000 shares, the short-interest ratio is presently 2.7 days.

Insider Transactions at Workday

In related news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now directly owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 411 shares of the firm’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 transaction of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 over the last quarter. Corporate insiders own 21.09% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC grew its holdings in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position 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 period. Clear Street Markets LLC acquired a new stake in Workday during the third quarter worth about $29,000. Exchange Traded Concepts LLC increased its holdings 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 period. Finally, Sound Income Strategies LLC increased its holdings in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ:WDAY opened at $251.04 on Monday. Workday has a 52 week low of $174.25 and a 52 week high of $311.28. 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 firm’s 50-day simple moving average is $273.49 and its 200 day simple moving average is $264.36. The firm has a market cap of $66.27 billion, a price-to-earnings ratio of 48.75, a P/E/G ratio of 6.27 and a beta of 1.32.

Workday (NASDAQ:WDAY) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted ($0.14) EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts predict that Workday will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of analyst reports. The Goldman Sachs Group raised their target price on shares of Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Needham & Company LLC lifted their target price on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. KeyCorp increased their price target on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Mizuho boosted their price target on Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Citigroup increased their price objective on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

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.