Workday (NASDAQ:WDAY) Announces Earnings Results, Beats Expectations By $0.13 EPS

Workday (NASDAQ:WDAY) released its quarterly earnings results on Tuesday. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13, Briefing.com reports. The business had revenue of $2.16 billion for 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%. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS.

Workday Stock Performance

Shares of Workday stock opened at $270.19 on Wednesday. The company has a market capitalization of $71.60 billion, a PE ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35. Workday has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $248.52 and its 200 day simple moving average is $237.21.

Insider Buying and Selling

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares in the company, valued at approximately $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 accessible through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,954 shares of company stock valued at $88,742,132. 20.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft upped their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Evercore ISI reduced their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Finally, DA Davidson upped their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. One equities 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.46.

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.