JPMorgan Chase & Co. Trims Workday (NASDAQ:WDAY) Target Price to $285.00

Workday (NASDAQ:WDAYGet Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $300.00 to $285.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 25.58% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays reduced their price objective on shares of Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Morgan Stanley dropped their price objective on Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group decreased their target price on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Workday from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on shares of Workday from $290.00 to $250.00 and set a “hold” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.96.

Check Out Our Latest Stock Report on Workday

Workday Trading Down 13.0 %

WDAY stock traded down $33.96 during mid-day trading on Friday, hitting $226.94. 5,678,688 shares of the company were exchanged, compared to its average volume of 1,906,808. The business has a fifty day simple moving average of $260.89 and a 200-day simple moving average of $268.88. The firm has a market capitalization of $59.91 billion, a P/E ratio of 44.07, a PEG ratio of 7.75 and a beta of 1.33. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAYGet Free Report) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that Workday will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Workday

Several institutional investors and hedge funds have recently bought and sold shares of WDAY. Beacon Capital Management LLC lifted its holdings in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Workday during the first quarter worth about $27,000. Exchange Traded Concepts LLC boosted its stake in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares during the period. Sound Income Strategies LLC grew its position in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Workday in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

About Workday

(Get Free Report)

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.

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