M&T Bank Corp Has $4.06 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

M&T Bank Corp trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,378 shares of the software maker's stock after selling 1,212 shares during the quarter. M&T Bank Corp's holdings in Workday were worth $4,059,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the 1st quarter valued at $32,000. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter valued at about $35,000. Financial Management Professionals Inc. increased its position in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares in the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new position in Workday during the 1st quarter worth $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

NASDAQ:WDAY traded up $1.39 during trading hours on Monday, reaching $224.76. 2,110,670 shares of the company's stock were exchanged, compared to its average volume of 2,484,108. The firm has a market capitalization of $60.01 billion, a price-to-earnings ratio of 124.18, a P/E/G ratio of 3.38 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a 50-day moving average of $248.29 and a 200 day moving average of $248.22.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the company earned $1.74 earnings per share. The company's quarterly revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider directly owned 102,997 shares of the company's stock, valued at $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock valued at $79,203,523. Corporate insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 23rd. Westpark Capital lifted their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Finally, Guggenheim reissued a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

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.