Workday Inc (WDAY) Expected to Announce Quarterly Sales of $814.68 Million

Wall Street brokerages expect Workday Inc (NASDAQ:WDAY) to report $814.68 million in sales for the current quarter, according to Zacks. Thirty Six analysts have issued estimates for Workday’s earnings. The lowest sales estimate is $812.43 million and the highest is $824.50 million. Workday posted sales of $618.64 million in the same quarter last year, which suggests a positive year over year growth rate of 31.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 30th.

On average, analysts expect that Workday will report full year sales of $3.55 billion for the current financial year, with estimates ranging from $3.53 billion to $3.62 billion. For the next year, analysts forecast that the firm will post sales of $4.36 billion, with estimates ranging from $4.19 billion to $4.55 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Workday.

A number of research firms have recently issued reports on WDAY. Exane BNP Paribas started coverage on shares of Workday in a research note on Friday, March 29th. They set an “underperform” rating on the stock. BNP Paribas started coverage on shares of Workday in a research note on Friday, March 29th. They issued an “underperform” rating and a $125.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $215.00 target price on shares of Workday in a report on Friday, March 1st. Deutsche Bank increased their target price on Workday from $155.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Barclays lifted their price target on Workday from $180.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Workday presently has a consensus rating of “Buy” and a consensus price target of $185.69.

In other Workday news, Director David A. Duffield sold 911 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $164.91, for a total transaction of $150,233.01. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robynne Sisco sold 6,048 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $164.75, for a total value of $996,408.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,118,720 shares of company stock valued at $205,487,122. Company insiders own 33.59% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nvwm LLC boosted its position in Workday by 2.6% in the 4th quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock worth $810,000 after purchasing an additional 127 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Workday by 0.8% during the fourth quarter. State of Alaska Department of Revenue now owns 17,941 shares of the software maker’s stock worth $2,864,000 after buying an additional 144 shares in the last quarter. Cypress Asset Management Inc. TX boosted its holdings in Workday by 175.7% during the fourth quarter. Cypress Asset Management Inc. TX now owns 11,620 shares of the software maker’s stock worth $1,855,000 after buying an additional 7,405 shares in the last quarter. Telemark Asset Management LLC purchased a new stake in Workday during the fourth quarter worth $15,968,000. Finally, Voloridge Investment Management LLC acquired a new stake in Workday during the fourth quarter valued at $9,386,000. Hedge funds and other institutional investors own 69.74% of the company’s stock.

Shares of WDAY traded up $0.82 during mid-day trading on Wednesday, hitting $187.11. The company’s stock had a trading volume of 818,659 shares, compared to its average volume of 1,570,950. Workday has a 52-week low of $117.24 and a 52-week high of $200.00. The stock has a market capitalization of $40.98 billion, a PE ratio of -153.37 and a beta of 1.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11.

About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Earnings History and Estimates for Workday (NASDAQ:WDAY)

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