M&T Bank Corp Increases Stake in Workday, Inc. (NASDAQ:WDAY)

M&T Bank Corp raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,590 shares of the software maker's stock after purchasing an additional 1,676 shares during the period. M&T Bank Corp's holdings in Workday were worth $4,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WDAY. Marcum Wealth LLC raised its position in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after purchasing an additional 41 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after acquiring an additional 43 shares during the period. Kingsview Wealth Management LLC increased its holdings in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock valued at $1,243,000 after purchasing an additional 43 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of Workday by 1.3% in the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker's stock worth $954,000 after buying an additional 48 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

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Workday Price Performance

Shares of WDAY traded down $0.07 during mid-day trading on Tuesday, reaching $242.93. The stock had a trading volume of 2,837,922 shares, compared to its average volume of 2,422,581. The business has a fifty day moving average of $258.01 and a 200 day moving average of $256.02. 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 has a market cap of $64.62 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 435,829 shares of company stock worth $113,033,319 over the last 90 days. Corporate insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of research analyst reports. Daiwa America raised shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $302.14.

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.