Workday (NASDAQ:WDAY) Price Target Raised to $310.00

Workday (NASDAQ:WDAY) had its target price upped by equities researchers at JPMorgan Chase & Co. from $285.00 to $310.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 14.23% from the stock’s previous close.

WDAY has been the topic of several other research reports. Piper Sandler raised their target price on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. Loop Capital upped their price target on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $297.00.

Workday Price Performance

Workday stock traded up $16.16 during trading on Wednesday, reaching $271.38. The company had a trading volume of 3,673,949 shares, compared to its average volume of 2,251,964. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s 50-day simple moving average is $259.97 and its 200 day simple moving average is $254.12. The firm has a market capitalization of $72.19 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday has a 1-year low of $199.81 and a 1-year high of $304.79.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, equities research analysts anticipate that Workday will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Institutional investors have recently added to or reduced their stakes in the stock. Roxbury Financial LLC purchased a new stake in shares of Workday in the 4th quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new position in Workday during the 3rd quarter worth $26,000. Crews Bank & Trust purchased a new stake in Workday during the 4th quarter worth about $26,000. Avion Wealth raised its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. 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.