Workday Inc (NASDAQ:WDAY) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 7,465,200 shares, a decrease of 19.8% from the June 30th total of 9,312,800 shares. Currently, 5.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,710,000 shares, the days-to-cover ratio is presently 4.4 days.

A number of equities analysts have recently commented on the company. ValuEngine downgraded Workday from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. UBS Group raised their price objective on Workday from $148.00 to $160.00 and gave the stock a “sell” rating in a report on Wednesday, May 29th. Wells Fargo & Co raised their price objective on Workday from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Wednesday, May 29th. Bank of America raised their price objective on Workday from $234.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $262.00 price objective (up from $250.00) on shares of Workday in a report on Wednesday, May 29th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Workday currently has an average rating of “Hold” and an average target price of $207.31.

WDAY stock opened at $185.77 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.60. Workday has a 1 year low of $117.72 and a 1 year high of $226.83. The firm has a market capitalization of $42.88 billion, a price-to-earnings ratio of -152.27 and a beta of 1.54. The company has a 50-day moving average of $208.17.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The company had revenue of $825.10 million during the quarter, compared to analyst estimates of $814.21 million. During the same quarter last year, the business posted $0.33 EPS. Workday’s quarterly revenue was up 33.2% compared to the same quarter last year. As a group, research analysts expect that Workday will post -1.06 EPS for the current fiscal year.

In other news, CEO Aneel Bhusri sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $193.14, for a total value of $57,942,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Duffield sold 281 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $219.67, for a total value of $61,727.27. The disclosure for this sale can be found here. Insiders have sold 756,292 shares of company stock worth $154,605,671 over the last quarter. 29.80% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. grew its stake in Workday by 60.9% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 148 shares of the software maker’s stock valued at $29,000 after purchasing an additional 56 shares in the last quarter. Lindbrook Capital LLC grew its stake in Workday by 149.2% during the 1st quarter. Lindbrook Capital LLC now owns 152 shares of the software maker’s stock valued at $29,000 after purchasing an additional 91 shares in the last quarter. Advisory Alpha LLC acquired a new stake in Workday during the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new stake in Workday during the 1st quarter valued at approximately $31,000. Finally, Strategy Asset Managers LLC acquired a new stake in Workday during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and 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, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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