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

Workday, Inc. (NASDAQ:WDAY) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 19,284,775 shares, a growth of 17.0% from the March 31st total of 16,476,617 shares. Based on an average daily trading volume, of 5,070,002 shares, the short-interest ratio is presently 3.8 days. Approximately 9.3% of the shares of the company are short sold.

Workday Price Performance

Shares of NASDAQ WDAY opened at $122.40 on Friday. The firm has a market capitalization of $31.46 billion, a P/E ratio of 47.44, a P/E/G ratio of 1.19 and a beta of 1.14. 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’s 50-day simple moving average is $130.01 and its two-hundred day simple moving average is $180.74. Workday has a twelve month low of $110.36 and a twelve month high of $276.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion for 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. As a group, equities analysts anticipate that Workday will post 5.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $13,631,158.24. This represents a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider directly owned 165,074 shares in the company, valued at $21,193,850.86. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 989,814 shares of company stock worth $131,576,291 in the last ninety days. Insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

Several institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Workday by 25.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,375 shares of the software maker’s stock valued at $1,088,000 after purchasing an additional 1,675 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Workday by 25.3% during the 1st quarter. Hsbc Holdings PLC now owns 710,309 shares of the software maker’s stock valued at $92,374,000 after purchasing an additional 143,274 shares during the last quarter. Waterfront Wealth Inc. increased its position in shares of Workday by 11.2% during the 1st quarter. Waterfront Wealth Inc. now owns 8,131 shares of the software maker’s stock valued at $1,056,000 after purchasing an additional 819 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Workday by 8.4% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 16,038 shares of the software maker’s stock valued at $2,084,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Workday by 3.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 75,748 shares of the software maker’s stock valued at $9,825,000 after purchasing an additional 2,247 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WDAY shares. Stifel Nicolaus set a $175.00 price target on Workday in a research report on Monday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Workday from $265.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Piper Sandler dropped their price objective on Workday from $200.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Robert W. Baird set a $195.00 price objective on Workday in a report on Tuesday, February 24th. Nineteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Workday Company Profile

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.