Workday (NASDAQ:WDAY) Posts Earnings Results, Beats Estimates By $0.13 EPS

Workday (NASDAQ:WDAY) released its quarterly earnings data on Tuesday. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.47 EPS. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year.

Workday Trading Up 0.9 %

NASDAQ:WDAY traded up $2.50 during trading hours on Tuesday, hitting $270.19. 3,717,991 shares of the company were exchanged, compared to its average volume of 2,098,257. The stock has a market capitalization of $71.60 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. Workday has a one year low of $199.81 and a one year high of $311.28. The company has a fifty day simple moving average of $248.08 and a 200 day simple moving average of $237.05. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling at Workday

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 sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WDAY shares. KeyCorp boosted their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Barclays boosted their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. 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. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, Loop Capital raised their price objective on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.