Workday (NASDAQ:WDAY) Announces Earnings Results

Workday (NASDAQ:WDAY) issued its earnings results on Tuesday. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13, Briefing.com reports. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS.

Workday Price Performance

NASDAQ WDAY opened at $270.19 on Wednesday. Workday has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $71.60 billion, a PE ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35. The stock has a 50-day simple moving average of $248.52 and a 200 day simple moving average of $237.21.

Analysts Set New Price Targets

Several brokerages recently issued reports on WDAY. Bank of America raised their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Scotiabank started coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Finally, KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $289.46.

Insider Activity at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. This represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last three months. Company insiders own 20.00% of the company’s stock.

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.