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

Workday, Inc. (NASDAQ:WDAY) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 7,760,000 shares, agrowthof854.4% from the June 30th total of 813,100 shares. Based on an average daily trading volume, of 2,140,000 shares, the short-interest ratio is presently 3.6 days. Based on an average daily trading volume, of 2,140,000 shares, the short-interest ratio is presently 3.6 days.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares of the company’s stock, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. 19.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Workday

A number of large investors have recently added to or reduced their stakes in WDAY. Mendel Money Management raised its position in shares of Workday by 6.7% in the second quarter. Mendel Money Management now owns 14,479 shares of the software maker’s stock valued at $3,475,000 after purchasing an additional 910 shares during the period. Auto Owners Insurance Co raised its position in shares of Workday by 43.7% in the second quarter. Auto Owners Insurance Co now owns 40,100 shares of the software maker’s stock valued at $9,624,000 after purchasing an additional 12,200 shares during the period. New York Life Investment Management LLC raised its holdings in Workday by 2.5% in the 2nd quarter. New York Life Investment Management LLC now owns 32,636 shares of the software maker’s stock valued at $7,833,000 after acquiring an additional 787 shares during the period. Howard Capital Management Inc. raised its holdings in Workday by 18.7% in the 2nd quarter. Howard Capital Management Inc. now owns 5,714 shares of the software maker’s stock valued at $1,371,000 after acquiring an additional 899 shares during the period. Finally, Motley Fool Asset Management LLC raised its holdings in Workday by 13.3% in the 2nd quarter. Motley Fool Asset Management LLC now owns 16,586 shares of the software maker’s stock valued at $3,981,000 after acquiring an additional 1,949 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 3.1%

Shares of WDAY stock opened at $222.22 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The firm’s 50-day moving average is $239.40 and its 200-day moving average is $246.15. The stock has a market cap of $59.33 billion, a price-to-earnings ratio of 122.77, a PEG ratio of 3.47 and a beta of 1.24. Workday has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. Sell-side analysts predict that Workday will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WDAY shares. Morgan Stanley set a $255.00 price target on shares of Workday and gave the company an “equal weight” rating in a research report on Friday, May 23rd. Westpark Capital increased their target price on shares of Workday from $315.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Piper Sandler reaffirmed an “underweight” rating and set a $235.00 price objective (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Finally, Mizuho dropped their price objective on Workday from $320.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.88.

About Workday

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.