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

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

Shares of NASDAQ:WDAY opened at $117.72 on Thursday. Workday has a 52 week low of $94.40 and a 52 week high of $140.00. The company has a market capitalization of $26.08 billion, a price-to-earnings ratio of -92.69 and a beta of 1.81. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.57.

Workday (NASDAQ:WDAY) last announced 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. Workday had a negative net margin of 14.53% and a negative return on equity of 14.60%. The company had revenue of $619.00 million for the quarter, compared to analyst estimates of $609.66 million. During the same quarter last year, the business earned $0.29 earnings per share. Workday’s revenue was up 29.0% compared to the same quarter last year. sell-side analysts predict that Workday will post -0.79 EPS for the current year.

In other news, Director Michael A. Stankey sold 8,066 shares of the stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $127.28, for a total transaction of $1,026,640.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Duffield sold 397,053 shares of the stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $125.96, for a total transaction of $50,012,795.88. The disclosure for this sale can be found here. Insiders have sold 966,213 shares of company stock worth $122,940,671 in the last ninety days. Corporate insiders own 33.59% of the company’s stock.

Large investors have recently made changes to their positions in the business. Twin Tree Management LP boosted its holdings in shares of Workday by 112.5% in the first quarter. Twin Tree Management LP now owns 957 shares of the software maker’s stock valued at $122,000 after acquiring an additional 8,609 shares in the last quarter. Northstar Capital Management LLC bought a new position in shares of Workday in the first quarter valued at approximately $133,000. Bailard Inc. bought a new position in shares of Workday in the first quarter valued at approximately $206,000. Commerce Bank bought a new position in shares of Workday in the first quarter valued at approximately $209,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Workday in the first quarter valued at approximately $218,000. Institutional investors own 68.73% of the company’s stock.

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Workday to $145.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Monness Crespi & Hardt increased their price target on shares of Workday from $156.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $145.00 price target (up previously from $125.00) on shares of Workday in a research report on Wednesday, February 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 price target (up previously from $140.00) on shares of Workday in a research report on Friday, June 1st. Finally, BidaskClub raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $127.87.

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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