Workday (NASDAQ:WDAY) Announces Quarterly Results

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

Workday shares down 1.0%

NASDAQ WDAY shares opened at $231.08 on Friday. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-to-g ratio of 5.84, and a beta of 1.35. The company has a 50-day moving average price of $222.71 and a 200-day moving average price of $248.45. 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.

Internal activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were priced at an average of $214.44, for a total transaction of $669,267.24. Following the close of the transaction, the insider now owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The sale was disclosed in a filing with the SEC, which can be viewed on the SEC’s website. In other news, majority shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were priced at an average of $229.32, for a total value of $12,841,920.00. Following the closing of the transaction, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which you can access via this link. Additionally, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that took place on Tuesday, May 28. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the closing of the transaction, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The disclosure of this sale can be found here. Over the last 90 days, insiders have sold 524,672 shares of the company’s stock worth $115,938,834. 20.00% of the shares are currently held by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WDAY. Bank of America lowered their price target on shares of Workday from $275.00 to $265.00 and gave the stock a buy rating in a research report on Thursday, August 15th. Goldman Sachs Group lowered their price target on shares of Workday from $310.00 to $300.00 and gave the stock a buy rating in a research report on Friday, May 24th. KeyCorp lowered their price target on shares of Workday from $330.00 to $275.00 and gave the stock an overweight rating in a research report on Friday, May 24th. Needham & Company LLC reiterated their buy rating and assigned a $350.00 price target on shares of Workday in a research report on Friday, May 24th. Finally, TD Cowen lowered their price target on shares of Workday from $330.00 to $290.00 and assigned a buy rating to 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 assigned a buy rating to the company. The company has a moderate buy consensus rating and an average price target of $278.85 according to MarketBeat.com.

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Workday Company Profile

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Workday, Inc. provides enterprise cloud applications in the United States and internationally. Its applications help customers plan, execute, analyze, and extend their businesses to other applications and environments. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as accounts payable and receivable; identify financial, operational, and management information in real time; improve financial consolidation; reduce closing times; promote internal control and auditability; and ensure consistency across financial transactions.

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