Workday (NASDAQ:WDAY) Issues Earnings Results

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

Workday Trading Up 0.9 %

NASDAQ:WDAY traded up $2.50 during mid-day trading on Tuesday, reaching $270.19. 3,717,991 shares of the company’s stock traded hands, compared to its average volume of 2,098,257. The company has a 50 day moving average price of $248.08 and a 200-day moving average price of $237.05. The firm has a market capitalization of $71.60 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday has a 12-month low of $199.81 and a 12-month high of $311.28.

Analyst Upgrades and Downgrades

Several research analysts have commented on WDAY shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. KeyCorp raised their target price on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Barclays raised their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $289.46.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is currently owned by company insiders.

Workday Company Profile

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.