Workday (NASDAQ:WDAY) Issues Earnings Results

Workday (NASDAQ:WDAY) released its quarterly earnings data on Tuesday. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13, Briefing.com reports. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share.

Workday Stock Down 6.2 %

Shares of NASDAQ:WDAY opened at $253.40 on Thursday. The company has a market capitalization of $67.15 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 5.36 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day moving average price of $248.62 and a two-hundred day moving average price of $237.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WDAY shares. Wells Fargo & Company upped their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley increased their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Scotiabank began coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Finally, Citigroup decreased their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 in the last ninety days. 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.