Short Interest in Workday Inc (WDAY) Decreases By 7.7%

Workday Inc (NASDAQ:WDAY) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 13,308,137 shares, a decrease of 7.7% from the May 31st total of 14,416,239 shares. Currently, 9.2% of the company’s stock are sold short. Based on an average trading volume of 2,691,123 shares, the days-to-cover ratio is currently 4.9 days.

WDAY has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target (up previously from $130.00) on shares of Workday in a research note on Wednesday, February 28th. Canaccord Genuity reiterated a “buy” rating and set a $145.00 price target (up previously from $125.00) on shares of Workday in a research note on Wednesday, February 28th. KeyCorp reiterated a “buy” rating and set a $140.00 price target (up previously from $131.00) on shares of Workday in a research note on Wednesday, February 28th. ValuEngine upgraded Workday from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Monness Crespi & Hardt began coverage on Workday in a research note on Wednesday, April 11th. They set a “buy” rating and a $156.00 target price for the company. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $127.87.

Workday stock opened at $121.82 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of -95.92 and a beta of 1.81. Workday has a 12 month low of $94.40 and a 12 month high of $140.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 31st. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $619.00 million during the quarter, compared to analysts’ expectations of $609.66 million. Workday had a negative return on equity of 14.60% and a negative net margin of 14.53%. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. analysts expect that Workday will post -0.79 earnings per share for the current fiscal year.

In other news, CFO Robynne Sisco sold 9,503 shares of the company’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $127.13, for a total transaction of $1,208,116.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aneel Bhusri sold 23,424 shares of the company’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $127.13, for a total value of $2,977,893.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 966,213 shares of company stock valued at $122,940,671. 33.59% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of WDAY. TCW Group Inc. acquired a new position in shares of Workday in the 1st quarter worth approximately $31,840,000. Federated Investors Inc. PA raised its holdings in shares of Workday by 22.3% in the 1st quarter. Federated Investors Inc. PA now owns 1,296,567 shares of the software maker’s stock worth $164,807,000 after buying an additional 236,811 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Workday by 19.7% in the 1st quarter. Franklin Resources Inc. now owns 1,342,790 shares of the software maker’s stock worth $170,682,000 after buying an additional 220,640 shares in the last quarter. AO Asset Management LP raised its holdings in shares of Workday by 146.7% in the 1st quarter. AO Asset Management LP now owns 334,133 shares of the software maker’s stock worth $42,472,000 after buying an additional 198,700 shares in the last quarter. Finally, Chicago Capital LLC acquired a new position in shares of Workday in the 1st quarter worth approximately $17,168,000. 68.73% of the stock is owned by institutional investors and hedge funds.

About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

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