Workday (WDAY) to Release Quarterly Earnings on Tuesday

Workday (NASDAQ:WDAY) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, November 28th. Analysts expect the company to announce earnings of $1.40 per share for the quarter. Workday has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.26 by $0.17. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Workday had a negative net margin of 1.81% and a positive return on equity of 2.09%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. On average, analysts expect Workday to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Workday Price Performance

WDAY opened at $237.02 on Tuesday. The firm has a market cap of $62.10 billion, a price-to-earnings ratio of -493.79, a price-to-earnings-growth ratio of 7.67 and a beta of 1.25. Workday has a fifty-two week low of $141.22 and a fifty-two week high of $252.72. The company’s 50-day moving average price is $222.15 and its 200 day moving average price is $222.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Workday in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Piper Sandler decreased their price objective on shares of Workday from $288.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, September 28th. JPMorgan Chase & Co. raised their price objective on shares of Workday from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 25th. Evercore ISI cut their target price on shares of Workday from $275.00 to $265.00 in a research report on Monday, October 2nd. Finally, Citigroup cut their target price on shares of Workday from $247.00 to $236.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $248.88.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 407 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $246.26, for a total transaction of $100,227.82. Following the sale, the insider now directly owns 178,323 shares of the company’s stock, valued at $43,913,821.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Carl M. Eschenbach bought 8,676 shares of Workday stock in a transaction dated Tuesday, August 29th. The shares were bought at an average cost of $240.44 per share, for a total transaction of $2,086,057.44. Following the completion of the transaction, the chief executive officer now owns 20,222 shares of the company’s stock, valued at $4,862,177.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 407 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $246.26, for a total transaction of $100,227.82. Following the transaction, the insider now owns 178,323 shares in the company, valued at $43,913,821.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,714 shares of company stock valued at $32,193,350. 21.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Workday

A number of large investors have recently modified their holdings of the stock. Creative Planning lifted its holdings in Workday by 17.8% in the third quarter. Creative Planning now owns 11,269 shares of the software maker’s stock valued at $2,421,000 after buying an additional 1,705 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Workday by 3.4% in the third quarter. Integrated Wealth Concepts LLC now owns 3,195 shares of the software maker’s stock worth $686,000 after purchasing an additional 106 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Workday by 33.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 3,057 shares of the software maker’s stock worth $657,000 after purchasing an additional 759 shares during the period. Comerica Bank acquired a new stake in Workday in the second quarter worth $479,000. Finally, Vestor Capital LLC acquired a new stake in Workday in the second quarter worth $113,000. 68.46% of the stock is currently owned by institutional investors and hedge funds.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. 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, such as payables and receivables; 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.