Wall Street brokerages forecast that Workday, Inc. (NASDAQ:WDAY) will announce $1.11 billion in sales for the current quarter, Zacks Investment Research reports. Thirty Two analysts have issued estimates for Workday’s earnings. The lowest sales estimate is $1.09 billion and the highest is $1.14 billion. Workday reported sales of $976.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.7%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, February 25th.
According to Zacks, analysts expect that Workday will report full-year sales of $4.29 billion for the current fiscal year, with estimates ranging from $4.26 billion to $4.33 billion. For the next fiscal year, analysts expect that the business will post sales of $4.99 billion, with estimates ranging from $4.09 billion to $5.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Workday.
Several research analysts recently weighed in on WDAY shares. Piper Sandler upped their price objective on shares of Workday from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, November 20th. The Goldman Sachs Group began coverage on shares of Workday in a research report on Thursday, January 21st. They set a “buy” rating and a $300.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Workday from $265.00 to $260.00 and set a “market perform” rating on the stock in a research report on Friday, November 20th. Loop Capital upgraded shares of Workday from a “sell” rating to a “buy” rating and set a $320.00 price target on the stock in a research report on Monday, February 8th. Finally, UBS Group increased their price target on shares of Workday from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, February 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. Workday presently has an average rating of “Buy” and a consensus price target of $254.90.
In other news, CEO Gomez Luciano Fernandez sold 7,345 shares of the firm’s stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $221.60, for a total transaction of $1,627,652.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Harry Sauer sold 1,329 shares of the firm’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $215.00, for a total value of $285,735.00. The disclosure for this sale can be found here. Insiders have sold 549,873 shares of company stock valued at $124,480,122 in the last three months. Insiders own 26.51% of the company’s stock.
Several large investors have recently modified their holdings of WDAY. Aequim Alternative Investments LP bought a new position in shares of Workday during the fourth quarter valued at $738,000. Clearbridge Investments LLC increased its holdings in shares of Workday by 14,627.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,094,548 shares of the software maker’s stock valued at $262,265,000 after acquiring an additional 1,087,116 shares in the last quarter. Ownership Capital B.V. increased its holdings in Workday by 86.9% in the 4th quarter. Ownership Capital B.V. now owns 1,585,688 shares of the software maker’s stock worth $144,662,000 after buying an additional 737,324 shares in the last quarter. FIL Ltd increased its holdings in Workday by 73.0% in the 4th quarter. FIL Ltd now owns 1,354,160 shares of the software maker’s stock worth $324,470,000 after buying an additional 571,408 shares in the last quarter. Finally, Tiger Global Management LLC increased its holdings in Workday by 11.4% in the 4th quarter. Tiger Global Management LLC now owns 4,127,450 shares of the software maker’s stock worth $988,978,000 after buying an additional 422,679 shares in the last quarter. Hedge funds and other institutional investors own 67.98% of the company’s stock.
Shares of WDAY stock traded down $8.50 during trading on Thursday, hitting $261.45. The company had a trading volume of 157,286 shares, compared to its average volume of 2,151,949. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average is $245.64 and its two-hundred day moving average is $224.89. The stock has a market capitalization of $62.75 billion, a price-to-earnings ratio of -139.04 and a beta of 1.59. Workday has a 52 week low of $107.75 and a 52 week high of $282.77.
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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