Workday, Inc. (NASDAQ:WDAY) Short Interest Down 17.1% in December

Workday, Inc. (NASDAQ:WDAY) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 8,087,851 shares, a decrease of 17.1% from the November 30th total of 9,753,385 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily volume of 2,756,577 shares, the short-interest ratio is presently 2.9 days. Based on an average daily volume of 2,756,577 shares, the short-interest ratio is presently 2.9 days. Currently, 3.8% of the shares of the stock are short sold.

Insider Activity

In other Workday news, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the sale, the director directly owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This trade represents a 18.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 80,279 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $215.04, for a total value of $17,263,196.16. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,589,736.96. This trade represents a 43.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 340,966 shares of company stock worth $75,095,274. 19.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently modified their holdings of WDAY. AlphaQuest LLC lifted its holdings in shares of Workday by 636.7% in the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after buying an additional 1,630 shares during the period. Norges Bank acquired a new stake in Workday during the second quarter worth about $442,702,000. Chicago Capital LLC raised its position in Workday by 2.2% during the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock valued at $42,193,000 after acquiring an additional 3,824 shares in the last quarter. Stance Capital LLC acquired a new position in Workday in the second quarter valued at approximately $1,276,000. Finally, Vanguard Group Inc. boosted its position in Workday by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after purchasing an additional 515,529 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDAY shares. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, November 26th. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Wednesday, September 17th. Citigroup cut their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Loop Capital set a $280.00 price target on shares of Workday in a report on Wednesday, December 10th. Finally, TD Cowen dropped their price objective on shares of Workday from $290.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.22.

Workday Price Performance

WDAY stock opened at $214.78 on Friday. The company has a fifty day simple moving average of $223.24 and a two-hundred day simple moving average of $229.74. Workday has a 52 week low of $205.33 and a 52 week high of $283.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $56.49 billion, a P/E ratio of 90.24, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 EPS. Analysts anticipate that Workday will post 2.63 earnings per share 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.