Short Interest in Workday, Inc. (NASDAQ:WDAY) Decreases By 12.8%

Workday, Inc. (NASDAQ:WDAYGet Free Report) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 9,170,000 shares, a decline 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 presently 2.8 days.

Workday Price Performance

Shares of WDAY opened at $262.06 on Friday. The firm has a market cap of $69.71 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The business’s 50 day moving average price is $261.07 and its two-hundred day moving average price is $248.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAYGet Free Report) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 EPS. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Workday will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WDAY shares. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $292.25.

Check Out Our Latest Stock Report on Workday

Insider Activity at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Institutional Trading of Workday

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Workday by 23.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,063 shares of the software maker’s stock valued at $1,132,000 after acquiring an additional 970 shares during the period. Quarry LP lifted its holdings in shares of Workday by 63.5% in the 2nd quarter. Quarry LP now owns 273 shares of the software maker’s stock worth $61,000 after purchasing an additional 106 shares in the last quarter. Truist Financial Corp grew its position in Workday by 1.5% in the 2nd quarter. Truist Financial Corp now owns 88,588 shares of the software maker’s stock valued at $19,805,000 after purchasing an additional 1,320 shares during the period. Cetera Investment Advisers increased its stake in Workday by 3.9% during the 2nd quarter. Cetera Investment Advisers now owns 51,043 shares of the software maker’s stock valued at $11,411,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Workday during the 2nd quarter valued at $6,183,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

About Workday

(Get Free Report)

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.

Further Reading

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