Zacks: Brokerages Expect Workday Inc (NASDAQ:WDAY) Will Post Quarterly Sales of $964.97 Million

Equities analysts expect Workday Inc (NASDAQ:WDAY) to report sales of $964.97 million for the current quarter, Zacks reports. Thirty Four analysts have made estimates for Workday’s earnings, with the highest sales estimate coming in at $978.99 million and the lowest estimate coming in at $954.28 million. Workday posted sales of $788.63 million in the same quarter last year, which suggests a positive year over year growth rate of 22.4%. The company is expected to issue its next earnings report on Thursday, February 27th.

On average, analysts expect that Workday will report full-year sales of $3.61 billion for the current year, with estimates ranging from $3.59 billion to $3.63 billion. For the next financial year, analysts anticipate that the business will post sales of $4.35 billion, with estimates ranging from $4.29 billion to $4.49 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Workday.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, December 3rd. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.16. The business had revenue of $938.10 million during the quarter, compared to the consensus estimate of $920.65 million. Workday had a negative net margin of 13.29% and a negative return on equity of 11.63%. Workday’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS.

Several research firms recently issued reports on WDAY. KeyCorp set a $235.00 price objective on shares of Workday and gave the stock a “buy” rating in a report on Thursday, August 29th. Mizuho set a $225.00 price objective on shares of Workday and gave the stock a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $196.00 price objective on shares of Workday in a report on Wednesday, December 4th. Societe Generale raised shares of Workday from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Co set a $210.00 price objective on shares of Workday and gave the stock a “buy” rating in a report on Friday, August 30th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $208.06.

Shares of NASDAQ WDAY traded down $0.28 during trading hours on Wednesday, hitting $159.46. 3,741,234 shares of the stock were exchanged, compared to its average volume of 2,218,511. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50 day moving average is $166.56 and its 200 day moving average is $186.31. The firm has a market capitalization of $37.62 billion, a P/E ratio of -130.70 and a beta of 1.54. Workday has a one year low of $141.70 and a one year high of $226.83.

In other news, CEO Aneel Bhusri sold 6,355 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $184.02, for a total transaction of $1,169,447.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gomez Luciano Fernandez sold 7,344 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $173.29, for a total transaction of $1,272,641.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 637,801 shares of company stock valued at $105,030,524. Insiders own 29.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. bought a new position in shares of Workday during the 3rd quarter worth about $1,077,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Workday by 9.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,762 shares of the software maker’s stock worth $1,999,000 after acquiring an additional 1,055 shares during the period. Night Owl Capital Management LLC lifted its holdings in shares of Workday by 7.7% during the 3rd quarter. Night Owl Capital Management LLC now owns 55,709 shares of the software maker’s stock worth $9,468,000 after acquiring an additional 3,985 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Workday during the 3rd quarter worth about $6,088,000. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Workday by 165.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 88,703 shares of the software maker’s stock worth $15,075,000 after acquiring an additional 55,237 shares during the period. 67.09% of the stock is owned by institutional investors.

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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