Workday Inc (NASDAQ:WDAY) – Equities researchers at JMP Securities upped their FY2018 earnings estimates for Workday in a research report issued on Wednesday. JMP Securities analyst P. Walravens now expects that the software maker will post earnings per share of ($1.11) for the year, up from their prior estimate of ($1.12). JMP Securities also issued estimates for Workday’s Q4 2018 earnings at ($0.34) EPS, Q2 2019 earnings at ($0.32) EPS, Q3 2019 earnings at ($0.38) EPS, FY2019 earnings at ($1.30) EPS, Q1 2020 earnings at ($0.32) EPS, Q3 2020 earnings at ($0.43) EPS and Q4 2020 earnings at ($0.33) EPS.
Workday (NASDAQ:WDAY) last posted its earnings results on Wednesday, November 29th. The software maker reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.10. Workday had a negative net margin of 16.91% and a negative return on equity of 19.73%. The company had revenue of $555.40 million during the quarter, compared to analyst estimates of $541.05 million. During the same period in the prior year, the business posted $0.03 earnings per share. Workday’s revenue for the quarter was up 35.6% on a year-over-year basis.
WDAY has been the subject of several other reports. JPMorgan Chase & Co. restated a “buy” rating and issued a $120.00 price objective on shares of Workday in a report on Tuesday, November 28th. BidaskClub lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Barclays raised their price objective on shares of Workday from $108.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Guggenheim initiated coverage on shares of Workday in a report on Monday, October 30th. They issued a “neutral” rating and a $105.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Workday from $123.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eighteen have issued a buy rating to the stock. Workday presently has a consensus rating of “Hold” and a consensus price target of $107.82.
Shares of Workday (NASDAQ WDAY) traded up $2.01 on Monday, reaching $126.02. 1,773,000 shares of the company’s stock traded hands, compared to its average volume of 1,575,411. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.74. Workday has a twelve month low of $80.61 and a twelve month high of $127.55. The stock has a market capitalization of $26,042.10, a price-to-earnings ratio of -76.84 and a beta of 2.01.
In related news, CEO Aneel Bhusri sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $100.34, for a total transaction of $7,525,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gomez Luciano Fernandez sold 1,709 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $124.23, for a total transaction of $212,309.07. The disclosure for this sale can be found here. Insiders have sold 1,199,015 shares of company stock valued at $126,965,706 in the last three months. 37.71% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. boosted its holdings in Workday by 22.5% in the second quarter. Advisor Group Inc. now owns 1,283 shares of the software maker’s stock worth $123,000 after purchasing an additional 236 shares during the last quarter. FNY Managed Accounts LLC boosted its stake in shares of Workday by 607.7% during the 3rd quarter. FNY Managed Accounts LLC now owns 1,380 shares of the software maker’s stock worth $145,000 after acquiring an additional 1,185 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Workday by 15.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,536 shares of the software maker’s stock worth $149,000 after acquiring an additional 201 shares during the last quarter. IBM Retirement Fund purchased a new position in shares of Workday during the 3rd quarter worth $204,000. Finally, BlueSky Wealth Advisors LLC purchased a new position in shares of Workday during the 3rd quarter worth $206,000. Institutional investors own 68.19% of the company’s stock.
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Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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