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

Workday (NASDAQ:WDAY) had its price objective dropped by analysts at JPMorgan Chase & Co. from $300.00 to $285.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.58% from the stock’s previous close.

A number of other equities research analysts have also weighed in on WDAY. KeyCorp cut their price objective on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $350.00 price objective on shares of Workday in a report on Friday. UBS Group reduced their target price on Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday. Finally, StockNews.com cut Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $282.96.

Workday Trading Down 13.0 %

Shares of Workday stock traded down $33.96 during trading on Friday, reaching $226.94. The company’s stock had a trading volume of 5,678,688 shares, compared to its average volume of 1,906,808. The company has a market cap of $59.91 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 7.75 and a beta of 1.33. The firm’s 50-day moving average is $260.89 and its two-hundred day moving average is $268.88. Workday has a 52-week low of $192.68 and a 52-week 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:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion during 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%. Workday’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. On average, sell-side analysts anticipate that Workday will post 1.76 earnings per share for the current year.

Insider Transactions 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 shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Douglas A. Robinson sold 411 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. 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 valued at $25,000 after buying an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Crewe Advisors LLC acquired a new position in Workday in the first quarter valued at approximately $27,000. Clear Street Markets LLC purchased a new stake in Workday in the 3rd quarter worth approximately $29,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Company Profile

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.