Zacks Research Brokers Raise Earnings Estimates for Workday

Workday, Inc. (NASDAQ:WDAY - Free Report) - Investment analysts at Zacks Research upped their FY2027 EPS estimates for shares of Workday in a note issued to investors on Monday, February 17th. Zacks Research analyst R. Department now expects that the software maker will post earnings of $4.57 per share for the year, up from their previous estimate of $4.56. The consensus estimate for Workday's current full-year earnings is $2.63 per share.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share.

WDAY has been the subject of several other reports. JMP Securities restated a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of Workday from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Piper Sandler reissued a "neutral" rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Barclays lowered their target price on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $291.11.

Workday Stock Down 2.0 %

NASDAQ:WDAY traded down $5.24 on Thursday, hitting $256.39. 2,415,239 shares of the company's stock traded hands, compared to its average volume of 2,092,095. The company has a market cap of $68.20 billion, a PE ratio of 42.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.35. Workday has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $261.10 and a 200-day moving average price of $252.54.

Institutional Investors Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the company. Bristlecone Advisors LLC lifted its position in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after acquiring an additional 968 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP bought a new position in Workday in the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock worth $7,791,000 after buying an additional 7,802 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after buying an additional 119,769 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company's stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company's stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 over the last three months. 20.00% of the stock is currently owned by insiders.

About Workday

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 to manage their business and operations. The company offers a suite of financial management applications 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.