JPMorgan Chase & Co. Boosts Workday (NASDAQ:WDAY) Price Target to $310.00

Workday (NASDAQ:WDAY) had its price target upped by JPMorgan Chase & Co. from $285.00 to $310.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.97% from the company’s current price.

A number of other brokerages have also recently issued reports on WDAY. Piper Sandler lifted their price objective on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Barclays decreased their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Loop Capital increased their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price target on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Workday Trading Down 3.9 %

Shares of Workday stock opened at $260.57 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a fifty day simple moving average of $259.89 and a two-hundred day simple moving average of $254.28. Workday has a 1 year low of $199.81 and a 1 year high of $298.50. The company has a market capitalization of $69.31 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts forecast that Workday will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the transaction, the insider now owns 284,000 shares of the company’s stock, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,321 shares of company stock worth $111,763,803 in the last quarter. Insiders own 20.00% of the company’s stock.

Institutional Investors Weigh In On Workday

Several large investors have recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in Workday during the fourth quarter valued at approximately $26,000. Roxbury Financial LLC bought a new stake in shares of Workday in the 4th quarter valued at about $25,000. Avion Wealth boosted its stake in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Capital Performance Advisors LLP bought a new stake in Workday in the 3rd quarter worth $26,000. Finally, TCTC Holdings LLC purchased a new position in Workday during the 4th quarter valued at about $35,000. 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.