M&T Bank Corp lifted its holdings in Workday Inc (NASDAQ:WDAY) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,777 shares of the software maker’s stock after buying an additional 3,959 shares during the quarter. M&T Bank Corp’s holdings in Workday were worth $3,318,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC purchased a new stake in Workday during the 3rd quarter valued at about $62,598,000. State of Alaska Department of Revenue grew its position in Workday by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 17,941 shares of the software maker’s stock valued at $2,864,000 after purchasing an additional 144 shares during the last quarter. Nvwm LLC grew its position in Workday by 2.6% during the 4th quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock valued at $810,000 after purchasing an additional 127 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Workday by 1.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 190,443 shares of the software maker’s stock valued at $27,801,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Avitas Wealth Management LLC grew its position in Workday by 2.9% during the 3rd quarter. Avitas Wealth Management LLC now owns 11,058 shares of the software maker’s stock valued at $1,614,000 after purchasing an additional 308 shares during the last quarter. 67.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Aneel Bhusri sold 300,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $165.54, for a total value of $49,662,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Duffield sold 911 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $164.91, for a total transaction of $150,233.01. The disclosure for this sale can be found here. Insiders sold a total of 999,158 shares of company stock worth $163,638,983 in the last quarter. Company insiders own 33.59% of the company’s stock.
Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, November 29th. The software maker reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.76. The business had revenue of $743.20 million for the quarter, compared to analysts’ expectations of $723.38 million. Workday had a negative net margin of 15.40% and a negative return on equity of 15.98%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, analysts expect that Workday Inc will post -1.05 EPS for the current year.
WDAY has been the topic of several recent analyst reports. Sanford C. Bernstein raised shares of Workday from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research report on Wednesday, October 17th. Atlantic Securities initiated coverage on shares of Workday in a research report on Wednesday, January 9th. They set an “overweight” rating and a $206.00 price objective on the stock. BidaskClub raised shares of Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 28th. Monness Crespi & Hardt reissued a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Workday in a research report on Friday, November 30th. Finally, KeyCorp increased their price objective on shares of Workday from $177.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Workday has a consensus rating of “Buy” and a consensus target price of $157.37.
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Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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