$917.99 Million in Sales Expected for Workday Inc (NASDAQ:WDAY) This Quarter

Wall Street analysts forecast that Workday Inc (NASDAQ:WDAY) will report $917.99 million in sales for the current fiscal quarter, Zacks reports. Twenty Seven analysts have provided estimates for Workday’s earnings. The highest sales estimate is $931.17 million and the lowest is $910.00 million. Workday posted sales of $743.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.5%. The firm is expected to issue its next earnings results on Thursday, December 5th.

According to Zacks, analysts expect that Workday will report full year sales of $3.58 billion for the current year, with estimates ranging from $3.56 billion to $3.61 billion. For the next financial year, analysts forecast that the business will report sales of $4.40 billion, with estimates ranging from $4.22 billion to $4.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Workday.

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

WDAY has been the topic of several research analyst reports. BMO Capital Markets lowered their price objective on Workday from $230.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Morgan Stanley set a $219.00 price objective on Workday and gave the stock a “buy” rating in a report on Friday, August 30th. Mizuho set a $225.00 price objective on Workday and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada set a $225.00 target price on shares of Workday and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Citigroup raised shares of Workday from a “sell” rating to a “neutral” rating and raised their target price for the stock from $138.00 to $192.00 in a research note on Friday, August 30th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $212.42.

In other news, CFO Robynne Sisco sold 10,235 shares of Workday stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $218.42, for a total transaction of $2,235,528.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James P. Shaughnessy sold 1,500 shares of Workday stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $219.32, for a total transaction of $328,980.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,105,846 shares of company stock worth $191,618,890. Corporate insiders own 29.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WDAY. Dimensional Fund Advisors LP raised its position in shares of Workday by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 123,024 shares of the software maker’s stock valued at $19,646,000 after buying an additional 7,353 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Workday by 36.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,220 shares of the software maker’s stock valued at $1,200,000 after purchasing an additional 1,671 shares during the last quarter. First Trust Advisors LP increased its holdings in Workday by 8.5% in the 1st quarter. First Trust Advisors LP now owns 673,358 shares of the software maker’s stock valued at $129,857,000 after purchasing an additional 52,495 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in Workday by 21.5% in the 1st quarter. Pictet Asset Management Ltd. now owns 29,938 shares of the software maker’s stock valued at $5,774,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in Workday by 83.3% in the 1st quarter. Fiera Capital Corp now owns 11,392 shares of the software maker’s stock valued at $2,197,000 after purchasing an additional 5,178 shares during the last quarter. 66.62% of the stock is currently owned by hedge funds and other institutional investors.

WDAY stock traded down $8.35 during trading on Thursday, hitting $169.49. The stock had a trading volume of 2,219,846 shares, compared to its average volume of 1,830,554. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Workday has a twelve month low of $117.72 and a twelve month high of $226.83. The stock has a market capitalization of $39.07 billion, a P/E ratio of -138.93 and a beta of 1.53. The company’s 50-day moving average price is $176.21 and its two-hundred day moving average price is $196.37.

Workday Company Profile

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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