Workday (NASDAQ:WDAY) Announces Quarterly Earnings Results

Workday (NASDAQ:WDAY) released its quarterly earnings results on Thursday. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10, Briefing.com reports. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.46%. Workday’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS.

Workday Stock Performance

NASDAQ:WDAY opened at $259.95 on Friday. The firm’s 50-day moving average is $223.72 and its 200-day moving average is $247.95. The company has a market cap of $68.89 billion, a price-to-earnings ratio of 46.84, a PEG ratio of 5.82 and a beta of 1.35. 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.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’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 owns 204,066 shares in the company, valued at $43,759,913.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major 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 sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares in the company, valued at $128,877,840. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 524,672 shares of company stock worth $115,938,834. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDAY shares. Royal Bank of Canada cut their target price on Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Barclays raised their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group decreased their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Robert W. Baird reduced their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Loop Capital upped their target price on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $288.15.

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.