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

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

WDAY has been the topic of a number of other research reports. UBS Group cut their price objective on shares of Workday from $280.00 to $255.00 and set a neutral rating on the stock in a report on Friday. Piper Sandler dropped their price objective on shares of Workday from $330.00 to $280.00 and set an overweight rating on the stock in a research note on Friday. Needham & Company LLC reiterated a buy rating and set a $350.00 price objective on shares of Workday in a research note on Friday. TD Cowen dropped their price objective on shares of Workday from $330.00 to $290.00 and set a buy rating on the stock in a research note on Friday. Finally, Stifel Nicolaus dropped their price objective on shares of Workday from $290.00 to $250.00 and set a hold rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $283.96.

Workday Trading Down 15.3 %

WDAY stock traded down $39.99 during midday trading on Friday, hitting $220.91. The stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. The firm has a market cap of $58.32 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 7.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday has a 12-month low of $192.68 and a 12-month high of $311.28. The company’s 50-day moving average price is $259.94 and its 200 day moving average price is $268.90.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 6.02%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company earned $0.16 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. 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 news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,691 shares of company stock worth $117,731,569. Insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On Workday

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Partners LLC increased its holdings in Workday by 1.2% in the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after buying an additional 34 shares in the last quarter. VisionPoint Advisory Group LLC increased its holdings in Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 34 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after buying an additional 34 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Workday by 8.1% in the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its position in Workday by 2.6% in the fourth 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. 89.81% of the stock is currently owned by institutional investors.

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.