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

Workday, Inc. (NASDAQ:WDAY) was the target of 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 days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WDAY shares. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Mizuho increased their target price on Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group boosted their target price on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.

Insider Activity

In related news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction 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 transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 over the last three months. 21.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workday

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the last quarter. Norges Bank bought a new position in Workday in the fourth quarter worth about $1,491,149,000. Wellington Management Group LLP boosted its stake in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Polen Capital Management LLC grew its holdings in shares of Workday by 2.0% during the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after purchasing an additional 78,352 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $251.04 on Monday. The stock has a market capitalization of $66.27 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 6.27 and a beta of 1.32. Workday has a one year low of $174.25 and a one year high of $311.28. The company’s 50-day simple moving average is $273.49 and its 200-day simple moving average is $264.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted ($0.14) EPS. Workday’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Workday will post 1.76 earnings per share for the current fiscal year.

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.