Workday (NASDAQ:WDAY) Issues Quarterly Earnings Results

Workday (NASDAQ:WDAY) issued its earnings results on Thursday. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10, Briefing.com reports. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS.

Workday Stock Up 12.5 %

Shares of NASDAQ WDAY traded up $28.87 during midday trading on Friday, reaching $259.95. 9,701,850 shares of the company’s stock were exchanged, compared to its average volume of 2,224,562. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday has a 52-week low of $199.81 and a 52-week high of $311.28. The business’s fifty day moving average price is $223.72 and its two-hundred day moving average price is $248.23. The stock has a market capitalization of $68.89 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.35.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 524,672 shares of company stock valued at $115,938,834. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several analyst reports. UBS Group reduced their price objective on Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group decreased their price objective on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Bank of America upped their target price on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley decreased their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Robert W. Baird dropped their price objective on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

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.