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

Workday (NASDAQ:WDAY) issued its earnings results on Tuesday. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13, Briefing.com reports. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS.

Workday Trading Up 0.9 %

Workday stock traded up $2.50 during trading hours on Tuesday, reaching $270.19. The company had a trading volume of 3,717,991 shares, compared to its average volume of 2,098,257. The firm has a market cap of $71.60 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 5.31 and a beta of 1.35. Workday has a 12-month low of $199.81 and a 12-month 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 company has a 50-day moving average price of $248.08 and a 200 day moving average price of $237.05.

Insider Transactions at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 359,954 shares of company stock worth $88,742,132. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Monday. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $289.46.

About Workday

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.