Short Interest in Workday, Inc. (NASDAQ:WDAY) Expands By 21.0%

Workday, Inc. (NASDAQ:WDAY) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,900,000 shares, an increase of 21.0% from the March 31st total of 4,050,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 2.7 days.

Insider Activity

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 21.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its holdings in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Workday in the 4th quarter valued at about $33,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Wells Fargo & Company raised their price target on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. KeyCorp upped their target price on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Stifel Nicolaus boosted their price target on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Finally, TheStreet raised shares of Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

Workday Price Performance

Shares of WDAY opened at $248.77 on Tuesday. The stock has a market cap of $65.68 billion, a PE ratio of 48.30, a P/E/G ratio of 6.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday has a 1-year low of $174.25 and a 1-year high of $311.28. The firm has a 50-day simple moving average of $272.42 and a two-hundred day simple moving average of $264.59.

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

About Workday

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.