Workday Inc Expected to Post FY2020 Earnings of ($1.22) Per Share (NASDAQ:WDAY)

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Workday Inc (NASDAQ:WDAY) – Research analysts at Wedbush boosted their FY2020 EPS estimates for Workday in a note issued to investors on Wednesday, October 16th. Wedbush analyst S. Koenig now forecasts that the software maker will post earnings per share of ($1.22) for the year, up from their previous forecast of ($1.23). Wedbush also issued estimates for Workday’s Q2 2021 earnings at ($0.30) EPS, FY2021 earnings at ($1.44) EPS and FY2022 earnings at ($1.45) EPS.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 29th. The software maker reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.05). Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. The firm had revenue of $887.75 million during the quarter, compared to the consensus estimate of $872.44 million. During the same period in the previous year, the firm posted $0.31 EPS. The company’s quarterly revenue was up 32.2% compared to the same quarter last year.

Other equities research analysts have also issued reports about the company. Goldman Sachs Group upgraded Workday from a “neutral” rating to a “buy” rating and set a $223.00 target price for the company in a report on Friday, October 11th. Wells Fargo & Co set a $210.00 target price on Workday and gave the stock a “buy” rating in a report on Friday, August 30th. KeyCorp set a $235.00 target price on Workday and gave the stock a “buy” rating in a report on Thursday, August 29th. Compass Point started coverage on Workday in a report on Tuesday, August 13th. They issued a “buy” rating and a $238.00 target price for the company. Finally, Royal Bank of Canada reduced their target price on Workday from $225.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $211.73.

WDAY opened at $154.54 on Monday. The business has a 50 day moving average price of $172.71 and a 200 day moving average price of $195.40. Workday has a twelve month low of $117.72 and a twelve month high of $226.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $35.99 billion, a P/E ratio of -126.67 and a beta of 1.53.

In related news, insider Petros Dermetzis sold 3,556 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $175.09, for a total value of $622,620.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robynne Sisco sold 10,238 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $182.42, for a total value of $1,867,615.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,099,707 shares of company stock valued at $189,341,183. Corporate insiders own 29.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. Banco de Sabadell S.A acquired a new position in shares of Workday in the second quarter valued at $31,000. San Francisco Sentry Investment Group CA raised its stake in shares of Workday by 445.7% in the third quarter. San Francisco Sentry Investment Group CA now owns 191 shares of the software maker’s stock valued at $33,000 after purchasing an additional 156 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in shares of Workday by 47.4% in the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock valued at $34,000 after purchasing an additional 54 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of Workday in the third quarter valued at $34,000. Finally, Advantage Investment Management LLC raised its stake in shares of Workday by 89.0% in the second quarter. Advantage Investment Management LLC now owns 189 shares of the software maker’s stock valued at $39,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

About Workday

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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Earnings History and Estimates for Workday (NASDAQ:WDAY)

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