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

Workday (NASDAQ:WDAY) had its price objective cut by JPMorgan Chase & Co. from $300.00 to $285.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Other research analysts have also issued research reports about the company. Guggenheim reiterated a sell rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, February 27th. JMP Securities reissued a market outperform rating and issued a $315.00 price objective on shares of Workday in a research note on Tuesday, February 27th. UBS Group dropped their price objective on Workday from $280.00 to $255.00 and set a neutral rating on the stock in a research note on Friday. Robert W. Baird dropped their price objective on Workday from $316.00 to $265.00 and set an outperform rating on the stock in a research note on Friday. Finally, Bank of America dropped their price objective on Workday from $330.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $283.96.

Workday Trading Down 15.3 %

Shares of WDAY stock opened at $220.91 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday has a 1 year low of $192.68 and a 1 year high of $311.28. The stock has a fifty day moving average of $259.94 and a two-hundred day moving average of $269.56. The firm has a market capitalization of $58.32 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 6.59 and a beta of 1.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 6.02% and a net margin of 19.66%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, research analysts expect that Workday will post 2.5 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s 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 transaction, the insider now owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s 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 transaction, the insider now owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was 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 of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Workday

Several large investors have recently made changes to their positions in WDAY. ORG Partners LLC lifted its position in shares of Workday by 1.2% during the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after purchasing an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after purchasing an additional 36 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of Workday by 2.6% during the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after purchasing an additional 36 shares during the last quarter. Institutional investors 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.