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

Workday, Inc. (NASDAQ:WDAY) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 8,087,851 shares, a drop of 17.1% from the November 30th total of 9,753,385 shares. Based on an average trading volume of 2,756,577 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.8% of the company’s shares are sold short. Approximately 3.8% of the company’s shares are sold short. Based on an average trading volume of 2,756,577 shares, the days-to-cover ratio is presently 2.9 days.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 80,279 shares of the business’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. The trade was a 43.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 1,915 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the sale, the chief accounting officer directly owned 37,351 shares of the company’s stock, valued at $8,925,394.96. This represents a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 340,966 shares of company stock worth $75,095,274 in the last three months. 20.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Workday

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC acquired a new stake in shares of Workday during the third quarter valued at about $556,252,000. Hotchkis & Wiley Capital Management LLC boosted its position in Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after buying an additional 1,882,391 shares during the period. Norges Bank acquired a new stake in Workday during the 2nd quarter worth approximately $442,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Workday by 41.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock worth $905,530,000 after acquiring an additional 1,103,421 shares during the last quarter. Finally, Generation Investment Management LLP increased its position in Workday by 50.4% in the 3rd quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock valued at $743,229,000 after acquiring an additional 1,034,589 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WDAY. Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Wednesday, November 26th. Morgan Stanley raised their price objective on Workday from $255.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. JPMorgan Chase & Co. dropped their price objective on Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Sanford C. Bernstein reduced their target price on Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have given a Hold rating to the company’s 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 Trading Down 0.9%

WDAY opened at $216.93 on Wednesday. The company has a market cap of $57.05 billion, a P/E ratio of 91.15, a PEG ratio of 2.47 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $224.37 and its 200-day moving average is $229.95. Workday has a 1-year low of $205.33 and a 1-year high of $283.68.

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

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.