FY2020 Earnings Estimate for Workday Inc Issued By Wedbush (NASDAQ:WDAY)

Workday Inc (NASDAQ:WDAY) – Stock analysts at Wedbush upped their FY2020 earnings estimates for Workday in a report issued on Wednesday, October 16th. Wedbush analyst S. Koenig now anticipates that the software maker will post earnings per share of ($1.22) for the year, up from their prior forecast of ($1.23). Wedbush also issued estimates for Workday’s Q2 2021 earnings at ($0.30) EPS, FY2021 earnings at ($1.44) EPS and FY2022 earnings at ($1.45) EPS.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results 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). The business had revenue of $887.75 million during the quarter, compared to the consensus estimate of $872.44 million. Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The firm’s revenue was up 32.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.

Several other analysts also recently commented on WDAY. Canaccord Genuity cut their price objective on shares of Workday from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group cut their price objective on shares of Workday from $194.00 to $188.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. JMP Securities set a $225.00 price objective on shares of Workday and gave the company a “buy” rating in a research report on Friday, August 30th. Mizuho set a $225.00 price objective on shares of Workday and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Goldman Sachs Group raised shares of Workday from a “neutral” rating to a “buy” rating and set a $223.00 price objective on the stock in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Workday presently has a consensus rating of “Hold” and a consensus price target of $211.73.

Shares of Workday stock opened at $153.02 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $170.71 and a 200 day moving average of $194.62. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of -125.43 and a beta of 1.53. Workday has a 1 year low of $117.72 and a 1 year high of $226.83.

In other news, CEO Aneel Bhusri sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $175.27, for a total transaction of $52,581,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robynne Sisco sold 10,238 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $182.42, for a total transaction of $1,867,615.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,099,707 shares of company stock worth $189,341,183. Insiders own 29.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Banco de Sabadell S.A purchased a new position in shares of Workday in the second quarter worth approximately $31,000. Carroll Financial Associates Inc. boosted its holdings in shares of Workday by 47.4% in the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock worth $34,000 after buying an additional 54 shares during the last quarter. Motco purchased a new position in shares of Workday in the second quarter worth approximately $39,000. Advantage Investment Management LLC boosted its holdings in shares of Workday by 89.0% in the second quarter. Advantage Investment Management LLC now owns 189 shares of the software maker’s stock worth $39,000 after buying an additional 89 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its holdings in shares of Workday by 445.7% in the third quarter. San Francisco Sentry Investment Group CA now owns 191 shares of the software maker’s stock worth $33,000 after buying an additional 156 shares during the last quarter. 66.63% of the stock is currently 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.

Further Reading: Momentum Investing

Earnings History and Estimates for Workday (NASDAQ:WDAY)

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