Workday (WDAY) Announces Earnings Results

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Workday (NASDAQ:WDAY) released its earnings results on Tuesday. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03), Morningstar.com reports. Workday had a negative return on equity of 15.30% and a negative net margin of 15.19%. The firm had revenue of $825.10 million during the quarter, compared to analysts’ expectations of $814.21 million. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 33.2% compared to the same quarter last year.

NASDAQ:WDAY traded up $2.36 during trading hours on Thursday, hitting $205.59. 31,256 shares of the company’s stock traded hands, compared to its average volume of 1,579,512. The firm has a market capitalization of $47.26 billion, a price-to-earnings ratio of -168.16 and a beta of 1.79. Workday has a 52 week low of $117.24 and a 52 week high of $217.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11.

In related news, CFO Robynne Sisco sold 926 shares of Workday stock in a transaction on Monday, March 4th. The stock was sold at an average price of $189.35, for a total transaction of $175,338.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aneel Bhusri sold 300,000 shares of Workday stock in a transaction on Monday, March 4th. The shares were sold at an average price of $179.58, for a total value of $53,874,000.00. The disclosure for this sale can be found here. Insiders have sold 1,126,562 shares of company stock valued at $208,547,706 in the last three months. 29.80% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Nvwm LLC boosted its stake in Workday by 2.6% during the fourth quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock valued at $810,000 after buying an additional 127 shares during the period. Cypress Asset Management Inc. TX raised its position in Workday by 175.7% during the fourth quarter. Cypress Asset Management Inc. TX now owns 11,620 shares of the software maker’s stock valued at $1,855,000 after purchasing an additional 7,405 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Workday by 3.8% in the fourth quarter. Standard Life Aberdeen plc now owns 7,699 shares of the software maker’s stock worth $1,220,000 after buying an additional 279 shares during the period. Telemark Asset Management LLC purchased a new position in shares of Workday in the fourth quarter worth about $15,968,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Workday in the fourth quarter worth about $9,386,000. 67.23% of the stock is owned by institutional investors.

A number of analysts have issued reports on the company. Northland Securities reissued a “hold” rating and issued a $200.00 target price on shares of Workday in a research report on Friday, March 1st. JMP Securities reissued an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Workday in a research report on Wednesday. Oppenheimer raised their target price on Workday from $185.00 to $216.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 26th. Credit Suisse Group raised their target price on Workday from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, BNP Paribas assumed coverage on Workday in a research report on Friday, March 29th. They issued an “underperform” rating and a $125.00 target price for the company. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $206.32.

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Workday Company Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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Earnings History for Workday (NASDAQ:WDAY)

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