KeyCorp Comments on Workday's Q1 Earnings (NASDAQ:WDAY)

Key Points

• KeyCorp expects Workday to report $1.71 in Q1 2028 EPS and forecasts earnings of $1.94, $2.05, and $2.27 for Q2 through Q4 2028. The firm maintains a “Sector Weight” rating.
• Workday’s latest quarterly results exceeded expectations, with EPS of $2.75 versus $2.61 expected and revenue of $2.65 billion, up 12.8% year over year.
• Analyst sentiment is mixed, with the stock carrying an overall “Hold” rating and a consensus price target of $205.03. Institutional investors own 89.81% of shares, while insiders have sold approximately $188.8 million of stock over the past 90 days.

Workday, Inc. (NASDAQ:WDAY - Free Report) - Investment analysts at KeyCorp issued their Q1 2028 EPS estimates for shares of Workday in a research note issued on Thursday, October 15th. KeyCorp analyst J. Celino anticipates that the software maker will post earnings per share of $1.71 for the quarter. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Workday's current full-year earnings is $5.33 per share. KeyCorp also issued estimates for Workday's Q2 2028 earnings at $1.94 EPS, Q3 2028 earnings at $2.05 EPS and Q4 2028 earnings at $2.27 EPS.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. The business's revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS.

Several other brokerages have also commented on WDAY. Jefferies Financial Group dropped their price target on shares of Workday from $220.00 to $210.00 and set a "hold" rating on the stock in a research note on Thursday, October 8th. TD Cowen reduced their price objective on Workday from $220.00 to $210.00 and set a "hold" rating for the company in a research report on Friday, August 28th. William Blair reissued an "outperform" rating on shares of Workday in a report on Friday, August 28th. CLSA started coverage on Workday in a research report on Monday, July 20th. They issued an "underperform" rating and a $92.00 target price on the stock. Finally, Citigroup restated a "neutral" rating on shares of Workday in a research report on Tuesday, October 6th. Nineteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $205.03.

Workday Price Performance

NASDAQ WDAY opened at $195.20 on Tuesday. Workday has a 52 week low of $110.36 and a 52 week high of $247.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $47.04 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07. The company has a 50-day moving average price of $192.00 and a two-hundred day moving average price of $154.29.

Institutional Investors Weigh In On Workday

A number of institutional investors and hedge funds have recently modified their holdings of WDAY. Kintegral Advisory LLC increased its stake in shares of Workday by 0.6% during the third quarter. Kintegral Advisory LLC now owns 10,893 shares of the software maker's stock worth $2,075,000 after purchasing an additional 61 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Workday by 55.9% during the 3rd quarter. CoreCap Advisors LLC now owns 173 shares of the software maker's stock worth $33,000 after purchasing an additional 62 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Workday by 21.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 481 shares of the software maker's stock valued at $92,000 after buying an additional 86 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in Workday by 5.5% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,791 shares of the software maker's stock valued at $341,000 after buying an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Workday by 10.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,004 shares of the software maker's stock valued at $123,000 after buying an additional 96 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $187.00, for a total value of $1,004,938.00. Following the transaction, the insider owned 226,233 shares in the company, valued at approximately $42,305,571. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, CAO Mark Garfield sold 918 shares of the company's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $189.45, for a total value of $173,915.10. Following the completion of the transaction, the chief accounting officer directly owned 69,309 shares in the company, valued at $13,130,590.05. This represents a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last ninety days. 18.64% of the stock is owned by company insiders.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company's products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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