FY2028 EPS Estimates for Workday Lifted by Zacks Research

Workday, Inc. (NASDAQ:WDAY) – Zacks Research lifted their FY2028 earnings per share estimates for shares of Workday in a research report issued to clients and investors on Monday, August 18th. Zacks Research analyst Team now forecasts that the software maker will post earnings of $5.64 per share for the year, up from their prior estimate of $5.56. The consensus estimate for Workday’s current full-year earnings is $2.63 per share.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business earned $1.74 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the company. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Stifel Nicolaus dropped their price target on Workday from $310.00 to $275.00 and set a “hold” rating on the stock in a research report on Friday, May 23rd. Finally, Piper Sandler restated an “underweight” rating and issued a $235.00 target price (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $293.08.

Workday Stock Up 2.5%

WDAY opened at $231.85 on Tuesday. The stock’s fifty day moving average is $234.25 and its 200-day moving average is $243.40. The company has a market capitalization of $61.90 billion, a PE ratio of 128.09, a P/E/G ratio of 3.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday has a one year low of $205.33 and a one year high of $294.00.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer owned 1,472 shares of the company’s stock, valued at $352,440.96. This represents a 80.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director directly owned 67,500 shares of the company’s stock, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workday

Several large investors have recently added to or reduced their stakes in the company. Goodman Advisory Group LLC raised its holdings in Workday by 39,882.4% in the 2nd quarter. Goodman Advisory Group LLC now owns 13,594 shares of the software maker’s stock valued at $3,263,000 after acquiring an additional 13,560 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in shares of Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after buying an additional 50 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Workday by 17.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 237,048 shares of the software maker’s stock worth $56,937,000 after buying an additional 34,716 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Workday in the 2nd quarter worth approximately $154,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Workday in the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.