Workday, Inc. (NASDAQ:WDAY) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.5% in the 1st quarter, Holdings Channel reports. The firm owned 17,378 shares of the software maker’s stock after selling 1,212 shares during the period. M&T Bank Corp’s holdings in Workday were worth $4,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC increased its stake in Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares during the period. Private Trust Co. NA grew its holdings in shares of Workday by 15.2% during the first quarter. Private Trust Co. NA now owns 318 shares of the software maker’s stock worth $74,000 after buying an additional 42 shares during the last quarter. CreativeOne Wealth LLC increased its position in Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after acquiring an additional 43 shares during the period. Salvus Wealth Management LLC increased its position in Workday by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker’s stock valued at $387,000 after acquiring an additional 45 shares during the period. Finally, Ashton Thomas Securities LLC raised its stake in Workday by 3.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock valued at $385,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 72,551 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the completion of the transaction, the insider directly owned 102,997 shares in the company, valued at approximately $24,679,111.17. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This trade represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,554 shares of company stock valued at $79,097,601 in the last quarter. Insiders own 19.31% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $229.30 on Friday. The business’s 50 day simple moving average is $248.80 and its 200-day simple moving average is $248.82. The firm has a market capitalization of $61.22 billion, a price-to-earnings ratio of 126.69, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. Workday’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WDAY shares. DA Davidson lifted their target price on Workday from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Scotiabank lowered their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Piper Sandler reissued an “underweight” rating and issued a $235.00 price objective (down from $255.00) on shares of Workday in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Workday from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.88.

Workday 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.