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

Workday (NASDAQ:WDAY) announced its earnings results on Tuesday. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13, Briefing.com reports. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year.

Workday Trading Down 6.2 %

Shares of Workday stock opened at $253.40 on Friday. The company’s fifty day simple moving average is $248.74 and its 200-day simple moving average is $237.44. Workday has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $67.15 billion, a PE ratio of 42.02, a P/E/G ratio of 5.03 and a beta of 1.35.

Analysts Set New Price Targets

WDAY has been the topic of a number of research analyst reports. Bank of America reduced their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus increased their price target on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $288.14.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 359,954 shares of company stock worth $88,742,132 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Company Profile

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.