Workday, Inc. (NASDAQ:WDAY) Sees Significant Decline in Short Interest

Workday, Inc. (NASDAQ:WDAY - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 6,900,000 shares, a decrease of 17.2% from the March 31st total of 8,330,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is currently 2.9 days. Approximately 3.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WDAY shares. Piper Sandler decreased their price target on shares of Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Loop Capital increased their price objective on Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a report on Wednesday, February 19th. Oppenheimer lifted their target price on shares of Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their target price on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $292.86.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. The trade was a 44.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. Corporate insiders own 20.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. raised its stake in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Workday during the fourth quarter valued at $658,735,000. Norges Bank bought a new position in Workday in the fourth quarter valued at about $645,710,000. Parnassus Investments LLC boosted its position in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 0.1 %

Shares of Workday stock traded down $0.34 on Monday, reaching $248.34. The company's stock had a trading volume of 807,956 shares, compared to its average volume of 2,587,560. Workday has a 52 week low of $199.81 and a 52 week high of $294.00. The firm's fifty day simple moving average is $239.28 and its two-hundred day simple moving average is $251.98. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $66.06 billion, a price-to-earnings ratio of 41.18, a P/E/G ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts anticipate that Workday will post 2.63 earnings per share 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.