JPMorgan Chase & Co. Has Lowered Expectations for Workday (NASDAQ:WDAY) Stock Price

Workday (NASDAQ:WDAY) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $295.00 to $290.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 31.06% from the company’s current price.

WDAY has been the topic of several other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $340.00 price objective on shares of Workday in a report on Friday. DA Davidson boosted their price objective on shares of Workday from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Cantor Fitzgerald set a $265.00 price target on shares of Workday in a report on Thursday, August 14th. Finally, Wells Fargo & Company lowered their price target on shares of Workday from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.76.

Workday Stock Performance

Workday stock opened at $221.27 on Friday. The company has a 50 day moving average price of $232.39 and a 200-day moving average price of $242.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The company has a market capitalization of $59.08 billion, a PE ratio of 102.44, a P/E/G ratio of 3.34 and a beta of 1.24.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.12. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.83%. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities analysts forecast that Workday will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the sale, the chief executive officer owned 1,472 shares of the company’s stock, valued at approximately $352,440.96. The trade was a 80.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director directly owned 67,500 shares of the company’s stock, valued at $16,767,675. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock worth $79,203,523 in the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Hedge Funds Weigh In On Workday

A number of hedge funds have recently made changes to their positions in WDAY. Vanguard Group Inc. boosted its position in Workday by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after buying an additional 515,529 shares during the period. State Street Corp lifted its position in shares of Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after purchasing an additional 303,713 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after purchasing an additional 140,042 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after purchasing an additional 1,211,659 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Workday by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after acquiring an additional 14,354 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.