Workday, Inc. (WDAY) Expected to Announce Quarterly Sales of $507.34 Million
Wall Street analysts predict that Workday, Inc. (NYSE:WDAY) will post sales of $507.34 million for the current fiscal quarter, according to Zacks. Thirty Four analysts have issued estimates for Workday’s earnings. The highest sales estimate is $512.80 million and the lowest is $505.22 million. Workday posted sales of $377.72 million in the same quarter last year, which suggests a positive year-over-year growth rate of 34.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 23rd.
According to Zacks, analysts expect that Workday will report full year sales of $507.34 million for the current financial year, with estimates ranging from $2.02 billion to $2.07 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.57 billion per share, with estimates ranging from $2.47 billion to $2.85 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Workday.
Workday (NYSE:WDAY) last announced its quarterly earnings results on Thursday, June 1st. The software maker reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.13. Workday had a negative net margin of 22.99% and a negative return on equity of 27.75%. The firm had revenue of $479.90 million for the quarter, compared to analyst estimates of $468.07 million. During the same period last year, the business earned $0.05 EPS. Workday’s revenue for the quarter was up 38.0% compared to the same quarter last year.
WDAY has been the topic of a number of research analyst reports. JMP Securities reiterated an “overweight” rating and set a $90.00 price objective on shares of Workday in a research note on Thursday, June 1st. Mitsubishi UFJ Financial Group set a $106.00 price objective on shares of Workday and gave the company a “buy” rating in a research note on Saturday, June 3rd. Credit Suisse Group initiated coverage on shares of Workday in a research note on Thursday, April 27th. They set a “neutral” rating and a $91.00 price objective on the stock. BMO Capital Markets reiterated a “hold” rating and set a $96.00 price objective on shares of Workday in a research note on Wednesday, April 5th. Finally, Wunderlich reiterated a “hold” rating and set a $96.00 price objective (up from $86.00) on shares of Workday in a research note on Saturday, June 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.44.
Shares of Workday (WDAY) traded down 0.48% during midday trading on Friday, reaching $102.64. 563,942 shares of the company traded hands. Workday has a 12 month low of $65.79 and a 12 month high of $104.80. The company has a 50 day moving average of $100.28 and a 200 day moving average of $89.37. The firm’s market capitalization is $21.25 billion.
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In other Workday news, CEO Aneel Bhusri sold 8,424 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $94.46, for a total value of $795,731.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Duffield sold 342,431 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $102.24, for a total transaction of $35,010,145.44. The disclosure for this sale can be found here. Insiders sold a total of 1,284,581 shares of company stock worth $127,908,387 in the last ninety days. Corporate insiders own 37.71% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Workday by 6.4% in the first quarter. Vanguard Group Inc. now owns 9,936,052 shares of the software maker’s stock valued at $827,474,000 after buying an additional 593,839 shares during the last quarter. State Street Corp boosted its position in shares of Workday by 10.6% in the first quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock valued at $190,552,000 after buying an additional 219,326 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Workday by 3.6% in the first quarter. Blair William & Co. IL now owns 915,982 shares of the software maker’s stock valued at $76,075,000 after buying an additional 32,201 shares during the last quarter. Champlain Investment Partners LLC boosted its position in shares of Workday by 16.5% in the first quarter. Champlain Investment Partners LLC now owns 804,615 shares of the software maker’s stock valued at $67,008,000 after buying an additional 114,030 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Workday by 45.2% in the first quarter. Russell Investments Group Ltd. now owns 629,077 shares of the software maker’s stock valued at $52,398,000 after buying an additional 195,796 shares during the last quarter.
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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