M&T Bank Corp Has $4.80 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

M&T Bank Corp increased its position in Workday, Inc. (NASDAQ:WDAY) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,590 shares of the software maker’s stock after purchasing an additional 1,676 shares during the quarter. M&T Bank Corp’s holdings in Workday were worth $4,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Two Sigma Advisers LP lifted its position in Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Workday by 62.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after purchasing an additional 524,799 shares during the period. KBC Group NV lifted its position in Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after purchasing an additional 506,812 shares during the period. Janus Henderson Group PLC lifted its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Workday by 2,166.1% in the fourth quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock worth $104,044,000 after purchasing an additional 385,430 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of WDAY stock opened at $252.38 on Friday. The stock has a 50-day moving average price of $258.39 and a 200 day moving average price of $255.61. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

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

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. KeyCorp lifted their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price objective on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citigroup cut their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Scotiabank lifted their price objective on Workday from $340.00 to $355.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

About Workday

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.