Zacks Research Lowers Earnings Estimates for Workday

Workday, Inc. (NASDAQ:WDAY - Free Report) - Stock analysts at Zacks Research dropped their FY2027 earnings per share (EPS) estimates for shares of Workday in a research note issued on Tuesday, May 20th. Zacks Research analyst R. Department now expects that the software maker will post earnings per share of $4.60 for the year, down from their previous forecast of $4.61. The consensus estimate for Workday's current full-year earnings is $2.63 per share.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a report on Friday. Piper Sandler restated a "neutral" rating and issued a $255.00 price objective (up previously from $230.00) on shares of Workday in a report on Friday. BMO Capital Markets raised their price objective on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. UBS Group raised their price objective on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average price target of $293.54.

Workday Stock Up 1.6%

Shares of NASDAQ WDAY traded up $3.77 during mid-day trading on Thursday, hitting $241.78. The company had a trading volume of 2,314,086 shares, compared to its average volume of 2,268,979. The company has a market capitalization of $64.31 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The firm has a 50-day simple moving average of $242.28 and a two-hundred day simple moving average of $254.06. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bristlecone Advisors LLC increased its holdings in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Workday during the fourth quarter worth $369,000. Smith Group Asset Management LLC increased its holdings in shares of Workday by 9.4% during the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock worth $28,129,000 after buying an additional 9,324 shares in the last quarter. Swedbank AB increased its holdings in shares of Workday by 17.7% during the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker's stock worth $25,165,000 after buying an additional 14,682 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Workday during the fourth quarter worth $8,984,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares of the company's stock, valued at approximately $29,556,522. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 over the last quarter. Company insiders own 19.31% of the company's stock.

Workday Company Profile

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.