Brokerages predict that Workday Inc (NASDAQ:WDAY) will report $872.19 million in sales for the current fiscal quarter, Zacks reports. Thirty Six analysts have provided estimates for Workday’s earnings. The highest sales estimate is $880.81 million and the lowest is $866.90 million. Workday reported sales of $671.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.8%. The firm is scheduled to announce its next earnings report on Tuesday, September 3rd.
According to Zacks, analysts expect that Workday will report full-year sales of $3.56 billion for the current financial year, with estimates ranging from $3.54 billion to $3.62 billion. For the next year, analysts forecast that the company will report sales of $4.39 billion, with estimates ranging from $4.22 billion to $4.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Workday.
Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, May 28th. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). The firm had revenue of $825.10 million during the quarter, compared to analyst estimates of $814.21 million. Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS.
WDAY has been the subject of a number of recent analyst reports. Bank of America reissued a “buy” rating and set a $208.00 target price (up previously from $175.00) on shares of Workday in a research report on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective (up previously from $170.00) on shares of Workday in a report on Friday, March 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $220.00 price objective (up previously from $185.00) on shares of Workday in a report on Tuesday, February 26th. KeyCorp reissued a “buy” rating and issued a $235.00 price objective on shares of Workday in a report on Wednesday, May 22nd. Finally, Canaccord Genuity lifted their price objective on Workday from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $206.32.
In related news, insider Robynne Sisco sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $195.29, for a total value of $7,811,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.68, for a total value of $320,520.00. The disclosure for this sale can be found here. Insiders sold a total of 667,662 shares of company stock valued at $129,194,842 in the last 90 days. 29.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Workday by 16.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 267,084 shares of the software maker’s stock valued at $51,507,000 after buying an additional 38,444 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Workday during the first quarter valued at approximately $489,000. Meridian Wealth Management LLC purchased a new position in shares of Workday during the first quarter valued at approximately $53,000. Marshall Wace North America L.P. purchased a new position in shares of Workday during the first quarter valued at approximately $115,000. Finally, Clearbridge Investments LLC increased its stake in shares of Workday by 2.3% during the first quarter. Clearbridge Investments LLC now owns 222,146 shares of the software maker’s stock valued at $42,841,000 after buying an additional 5,083 shares during the period. Institutional investors own 67.23% of the company’s stock.
NASDAQ:WDAY traded down $0.93 on Tuesday, reaching $207.53. 30,199 shares of the stock traded hands, compared to its average volume of 2,108,155. The company has a market capitalization of $47.16 billion, a PE ratio of -170.21 and a beta of 1.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.09 and a current ratio of 1.09. Workday has a 1-year low of $117.24 and a 1-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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