Workday (NASDAQ:WDAY) Announces Earnings Results, Misses Expectations By $0.03 EPS

Workday (NASDAQ:WDAYGet Rating) released its earnings results on Thursday. The software maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03), MarketWatch Earnings reports. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Workday had a positive return on equity of 1.39% and a negative net margin of 0.49%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS.

Shares of NASDAQ:WDAY opened at $158.79 on Monday. Workday has a 1 year low of $149.05 and a 1 year high of $307.81. The stock’s fifty day moving average price is $207.80 and its 200-day moving average price is $237.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $39.70 billion, a P/E ratio of -1,323.25 and a beta of 1.39.

Several analysts have weighed in on the company. Loop Capital lowered their price objective on Workday from $340.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. Wells Fargo & Company lowered their price objective on Workday from $300.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus lowered their price objective on Workday from $275.00 to $220.00 in a research report on Friday. Needham & Company LLC lowered their price objective on Workday from $300.00 to $200.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America boosted their target price on Workday from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. Four equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $255.58.

In other news, major shareholder David A. Duffield sold 209,657 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $238.52, for a total value of $50,007,387.64. Following the transaction, the insider now owns 104,395 shares of the company’s stock, valued at $24,900,295.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gomez Luciano Fernandez sold 2,424 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $245.07, for a total value of $594,049.68. The disclosure for this sale can be found here. In the last three months, insiders sold 256,453 shares of company stock worth $60,374,855. 21.74% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC grew its holdings in Workday by 3.6% during the 4th quarter. Evolution Wealth Advisors LLC now owns 1,198 shares of the software maker’s stock valued at $327,000 after buying an additional 42 shares in the last quarter. Tower View Investment Management & Research LLC grew its holdings in Workday by 0.7% during the 4th quarter. Tower View Investment Management & Research LLC now owns 6,643 shares of the software maker’s stock valued at $1,815,000 after buying an additional 47 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in Workday by 0.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 16,284 shares of the software maker’s stock valued at $4,449,000 after buying an additional 49 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Workday by 2.8% during the 4th quarter. Belpointe Asset Management LLC now owns 1,925 shares of the software maker’s stock valued at $526,000 after buying an additional 53 shares in the last quarter. Finally, Lloyd Advisory Services LLC. grew its holdings in Workday by 21.0% during the 4th quarter. Lloyd Advisory Services LLC. now owns 323 shares of the software maker’s stock valued at $88,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.

About Workday (Get Rating)

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

Featured Stories

Earnings History for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.