Workday (NASDAQ:WDAY) Given New $190.00 Price Target at JPMorgan Chase & Co.

Workday (NASDAQ:WDAY) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $200.00 to $190.00 in a research note issued on Wednesday, BenzingaRatingsTable 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 9.51% from the company’s previous close.

A number of other brokerages also recently issued reports on WDAY. Bank of America reissued a “buy” rating and set a $260.00 target price on shares of Workday in a research note on Wednesday, November 27th. Northland Securities reaffirmed a “hold” rating and set a $200.00 price objective on shares of Workday in a report on Wednesday. Wedbush reiterated a “hold” rating and issued a $195.00 price objective on shares of Workday in a research report on Tuesday, November 26th. Monness Crespi & Hardt set a $262.00 target price on Workday and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Wells Fargo & Co set a $210.00 price target on shares of Workday and gave the stock a “buy” rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company. Workday currently has a consensus rating of “Hold” and an average price target of $209.39.

Shares of WDAY stock opened at $173.50 on Wednesday. The company has a market capitalization of $40.84 billion, a P/E ratio of -142.21 and a beta of 1.54. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $165.95 and its two-hundred day moving average is $188.61. Workday has a twelve month low of $141.70 and a twelve month high of $226.83.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, December 3rd. The software maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.16. Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The firm had revenue of $938.10 million during the quarter, compared to the consensus estimate of $920.65 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, equities analysts predict that Workday will post -1.17 earnings per share for the current fiscal year.

In other news, Director David A. Duffield sold 300,785 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.27, for a total value of $50,011,521.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aneel Bhusri sold 6,355 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $184.02, for a total transaction of $1,169,447.10. The disclosure for this sale can be found here. Insiders have sold 509,292 shares of company stock valued at $86,126,565 over the last 90 days. 29.80% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Ballentine Partners LLC grew its stake in shares of Workday by 4.0% during the second quarter. Ballentine Partners LLC now owns 1,427 shares of the software maker’s stock valued at $294,000 after acquiring an additional 55 shares in the last quarter. Bray Capital Advisors raised its stake in shares of Workday by 0.6% in the 2nd quarter. Bray Capital Advisors now owns 11,555 shares of the software maker’s stock valued at $2,375,000 after purchasing an additional 71 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Workday by 1.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 4,530 shares of the software maker’s stock valued at $770,000 after purchasing an additional 80 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Workday by 0.8% during the second quarter. Coldstream Capital Management Inc. now owns 10,722 shares of the software maker’s stock worth $2,204,000 after purchasing an additional 84 shares during the last quarter. Finally, Johanson Financial Advisors Inc. lifted its position in shares of Workday by 5.7% during the second quarter. Johanson Financial Advisors Inc. now owns 1,585 shares of the software maker’s stock worth $324,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

See Also: Institutional Investors

Analyst Recommendations for Workday (NASDAQ:WDAY)

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