Workday, Inc. (NASDAQ:WDAY) Short Interest Down 12.8% in January

Workday, Inc. (NASDAQ:WDAY) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 9,170,000 shares, a drop of 12.8% from the December 31st total of 10,520,000 shares. Based on an average daily volume of 3,270,000 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 in the last 90 days. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marcum Wealth LLC increased its holdings in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares in the last quarter. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on WDAY shares. Mizuho boosted their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Loop Capital reduced their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Trading Up 0.8 %

Shares of Workday stock opened at $262.06 on Monday. The business has a fifty day simple moving average of $261.07 and a 200-day simple moving average of $248.97. Workday has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company earned $0.47 EPS. Workday’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Workday will post 2.63 EPS 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.