Brokerages forecast that Workday Inc (NASDAQ:WDAY) will report sales of $872.19 million for the current fiscal quarter, Zacks Investment Research reports. Thirty Six analysts have provided estimates for Workday’s earnings. The lowest sales estimate is $866.90 million and the highest is $880.81 million. Workday posted sales of $671.72 million in the same quarter last year, which suggests a positive year over year growth rate of 29.8%. The firm is expected to report its next quarterly earnings results on Tuesday, September 3rd.
On average, analysts expect that Workday will report full year sales of $3.56 billion for the current year, with estimates ranging from $3.54 billion to $3.62 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.39 billion, with estimates ranging from $4.22 billion to $4.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Workday.
Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The firm had revenue of $825.10 million during the quarter, compared to the consensus estimate of $814.21 million. Workday had a negative return on equity of 14.92% and a negative net margin of 15.19%. Workday’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS.
Several brokerages have recently weighed in on WDAY. Monness Crespi & Hardt restated a “buy” rating and set a $262.00 price target (up from $250.00) on shares of Workday in a report on Wednesday, May 29th. Bank of America lifted their target price on shares of Workday from $234.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Stifel Nicolaus lifted their target price on shares of Workday from $175.00 to $195.00 and gave the stock a “hold” rating in a report on Wednesday, May 29th. Deutsche Bank lifted their target price on shares of Workday from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, May 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (up previously from $220.00) on shares of Workday in a report on Wednesday, May 29th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Workday presently has an average rating of “Buy” and a consensus target price of $206.32.
In related news, SVP James P. Shaughnessy sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $194.83, for a total transaction of $935,184.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aneel Bhusri sold 17,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $193.00, for a total transaction of $3,329,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 667,662 shares of company stock worth $129,194,842. Insiders own 29.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Norges Bank bought a new stake in shares of Workday during the fourth quarter worth approximately $198,900,000. 1832 Asset Management L.P. boosted its holdings in Workday by 1,817.2% during the fourth quarter. 1832 Asset Management L.P. now owns 912,600 shares of the software maker’s stock worth $143,537,000 after purchasing an additional 865,000 shares during the last quarter. American Century Companies Inc. acquired a new position in Workday during the fourth quarter worth $132,247,000. Jennison Associates LLC boosted its holdings in Workday by 6.8% during the first quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock worth $1,680,974,000 after purchasing an additional 552,280 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in Workday during the first quarter worth $59,187,000. 67.23% of the stock is owned by institutional investors and hedge funds.
WDAY traded down $0.46 during trading on Tuesday, reaching $208.00. The stock had a trading volume of 1,056,979 shares, compared to its average volume of 2,058,267. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.60. The company has a market cap of $47.01 billion, a price-to-earnings ratio of -170.49 and a beta of 1.68. Workday has a one year low of $117.24 and a one year high of $217.63.
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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