Brokerages expect Workday Inc (NASDAQ:WDAY) to post $918.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twenty Eight analysts have made estimates for Workday’s earnings, with the lowest sales estimate coming in at $910.00 million and the highest estimate coming in at $931.17 million. Workday reported sales of $743.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, December 5th.

According to Zacks, analysts expect that Workday will report full year sales of $3.58 billion for the current year, with estimates ranging from $3.56 billion to $3.61 billion. For the next year, analysts anticipate that the business will post sales of $4.40 billion, with estimates ranging from $4.22 billion to $4.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Workday.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 29th. The software maker reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.05). The firm had revenue of $887.75 million during the quarter, compared to analyst estimates of $872.44 million. Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.

Several equities research analysts have recently commented on WDAY shares. Citigroup upgraded shares of Workday from a “sell” rating to a “neutral” rating and boosted their target price for the company from $138.00 to $192.00 in a research note on Friday, August 30th. Monness Crespi & Hardt set a $262.00 price target on shares of Workday and gave the company a “buy” rating in a report on Friday, August 30th. Mizuho set a $225.00 target price on shares of Workday and gave the stock a “buy” rating in a research note on Friday, August 30th. Canaccord Genuity raised their price target on shares of Workday from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Mitsubishi UFJ Financial Group raised their price target on shares of Workday from $215.00 to $244.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Workday has an average rating of “Hold” and an average target price of $212.45.

WDAY stock traded down $0.81 on Tuesday, reaching $169.57. 40,035 shares of the company were exchanged, compared to its average volume of 2,245,707. Workday has a 12 month low of $117.72 and a 12 month high of $226.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $190.22 and its 200 day moving average price is $198.55. The firm has a market capitalization of $39.01 billion, a PE ratio of -139.89 and a beta of 1.56.

In related news, CEO Aneel Bhusri sold 6,576 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $219.15, for a total transaction of $1,441,130.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Duffield sold 233,914 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $213.79, for a total transaction of $50,008,474.06. The disclosure for this sale can be found here. Insiders sold 863,053 shares of company stock worth $161,631,974 in the last ninety days. Insiders own 29.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. CWM Advisors LLC lifted its position in shares of Workday by 11.0% in the 2nd quarter. CWM Advisors LLC now owns 3,652 shares of the software maker’s stock worth $751,000 after buying an additional 362 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in Workday by 17.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,299 shares of the software maker’s stock valued at $636,000 after buying an additional 490 shares during the period. Aviva PLC increased its stake in Workday by 6.8% during the 2nd quarter. Aviva PLC now owns 58,600 shares of the software maker’s stock valued at $12,047,000 after buying an additional 3,715 shares during the period. Comerica Bank increased its stake in Workday by 12.1% during the 2nd quarter. Comerica Bank now owns 5,530 shares of the software maker’s stock valued at $1,206,000 after buying an additional 595 shares during the period. Finally, Advisory Services Network LLC increased its stake in Workday by 652.0% during the 2nd quarter. Advisory Services Network LLC now owns 564 shares of the software maker’s stock valued at $116,000 after buying an additional 489 shares during the period. Institutional investors and hedge funds own 67.24% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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