Workday (NASDAQ:WDAY) Releases Earnings Results, Beats Expectations By $0.14 EPS

Workday (NASDAQ:WDAY) announced its quarterly earnings data on Thursday. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.14, FiscalAI reports. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion.

Workday Trading Up 1.5%

Workday stock traded up $2.82 during trading on Thursday, hitting $193.57. The company had a trading volume of 6,975,531 shares, compared to its average volume of 5,073,489. The company’s 50 day simple moving average is $154.42 and its 200-day simple moving average is $140.14. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 60.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. Workday has a 1-year low of $110.36 and a 1-year high of $249.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Analyst Ratings Changes

WDAY has been the topic of several research analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Workday in a research report on Friday, May 22nd. Lake Street Capital set a $205.00 price objective on Workday in a report on Friday, August 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research report on Friday, August 21st. Piper Sandler reiterated a “neutral” rating and issued a $145.00 price objective on shares of Workday in a research note on Friday, August 14th. Finally, Jefferies Financial Group increased their price target on Workday from $205.00 to $225.00 and gave the stock a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $189.86.

Insider Activity

In other Workday news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 875,020 shares of company stock valued at $113,938,503. Company insiders own 18.64% of the company’s stock.

Institutional Trading of Workday

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after buying an additional 127 shares during the period. Sivia Capital Partners LLC bought a new position in Workday in the second quarter worth approximately $281,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Workday by 32.0% in the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after acquiring an additional 1,600 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.