Workday (NASDAQ:WDAY) Given New $310.00 Price Target at JPMorgan Chase & Co.

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

Several other brokerages also recently weighed in on WDAY. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday. Mizuho boosted their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $297.00.

Workday Stock Up 6.3 %

NASDAQ:WDAY traded up $16.16 during mid-day trading on Wednesday, hitting $271.38. 3,673,949 shares of the company’s stock traded hands, compared to its average volume of 2,251,964. The company has a market capitalization of $72.19 billion, a P/E ratio of 45.02, a P/E/G ratio of 3.55 and a beta of 1.35. 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 company has a fifty day moving average of $259.97 and a 200 day moving average of $254.12. Workday has a twelve month low of $199.81 and a twelve month high of $304.79.

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

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. Company insiders own 20.00% of the company’s stock.

Institutional Trading of Workday

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtue Capital Management LLC grew its holdings in Workday by 11.5% during the 4th quarter. Virtue Capital Management LLC now owns 2,747 shares of the software maker’s stock valued at $709,000 after buying an additional 284 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Workday during the fourth quarter valued at $88,000. Cypress Asset Management Inc. TX purchased a new position in shares of Workday during the fourth quarter worth approximately $1,187,000. Ascent Group LLC increased its stake in shares of Workday by 2.3% during the fourth quarter. Ascent Group LLC now owns 3,448 shares of the software maker’s stock valued at $890,000 after buying an additional 78 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Workday by 78.5% during the fourth quarter. Mackenzie Financial Corp now owns 241,808 shares of the software maker’s stock valued at $62,394,000 after buying an additional 106,364 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.