Short Interest in Workday, Inc. (NASDAQ:WDAY) Grows By 20.4%

Workday, Inc. (NASDAQ:WDAY) was the target of a large growth in short interest in 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. Approximately 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 7,111,798 shares, the short-interest ratio is presently 2.2 days. Based on an average daily trading volume, of 7,111,798 shares, the short-interest ratio is presently 2.2 days. Approximately 7.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WDAY shares. Citizens Jmp lowered Workday from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their price target on Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, February 25th. Guggenheim reduced their price objective on shares of Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, 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 report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.00.

Insider Buying and Selling at Workday

In other Workday news, insider Richard Harry Sauer sold 1,130 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total value of $237,300.00. Following the sale, the insider owned 85,398 shares of the company’s stock, valued at $17,933,580. This trade represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 953 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.56, for a total transaction of $199,710.68. Following the transaction, the chief accounting officer directly owned 35,336 shares of the company’s stock, valued at approximately $7,405,012.16. This trade represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 610,796 shares of company stock worth $107,013,566 over the last ninety days. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workday

A number of institutional investors and hedge funds have recently made changes to their positions in WDAY. First Eagle Investment Management LLC bought a new stake in Workday during the 3rd quarter valued at about $556,252,000. PKO Investment Management Joint Stock Co bought a new position in shares of Workday in the third quarter worth approximately $1,805,000. Phoenix Financial Ltd. bought a new position in shares of Workday in the third quarter worth approximately $2,000,000. Rakuten Investment Management Inc. purchased a new stake in shares of Workday during the third quarter valued at approximately $124,718,000. Finally, Norges Bank bought a new stake in shares of Workday during the second quarter valued at approximately $442,702,000. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $133.09 on Monday. The business’s fifty day moving average is $164.66 and its 200 day moving average is $205.82. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $34.20 billion, a price-to-earnings ratio of 51.59, a PEG ratio of 1.29 and a beta of 1.17. Workday has a twelve month low of $117.76 and a twelve month high of $276.00.

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

About Workday

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.