David A. Duffield, a significant shareholder of Workday Inc . (NASDAQ:WDAY), a $72 billion market cap company with a GREAT financial health rating according to InvestingPro, executed a series of stock sales on December 16, 2024, according to a recent SEC filing. The transactions, carried out under a pre-established trading plan, involved the sale of 68,946 shares of Class A Common Stock. The shares were sold at prices ranging from $270.9375 to $278.8207, totaling approximately $17.68 million. The sale comes as Workday trades near its Fair Value, with the stock showing impressive momentum, gaining nearly 34% over the past six months.
Following these sales, Duffield holds 102,997 shares directly. Additionally, through the Dave and Cheryl Duffield Foundation, he indirectly owns 341,000 shares. The sales were conducted as part of a Rule 10b5-1 trading plan, which allows insiders to sell a predetermined number of shares at a predetermined time, aiming to avoid any accusations of insider trading. With a P/E ratio of 44.6 and strong profitability metrics, Workday continues to demonstrate robust financial performance. Discover 12 more key insights about Workday with InvestingPro's exclusive analysis and comprehensive research reports.
In other recent news, Workday, Inc. has been making significant strides. RBC Capital Markets has upgraded its price target for the company to $320 from $300, maintaining an Outperform rating on the stock. This follows investor meetings in Toronto with Workday's VP of Investor Relations, Justin Furby, discussing the company's revised target model and growth drivers. Workday's financial health is robust, demonstrated by a 16.8% revenue growth and a strong liquidity position.
Workday's inclusion in the S&P 500 index during the recent rebalance has been a positive development. This change reflects the company's strong market capitalization and liquidity. Analysts from TD Cowen and Oppenheimer have maintained their positive ratings on Workday, while Goldman Sachs (NYSE:GS), despite reducing its price target, has sustained a Buy rating for the company.
In the wake of a strong outlook for IT spending from the 2025 CIO Survey by Piper Sandler, Workday holds a Neutral rating due to its pricing model's sensitivity to AI's impact on headcount. The company's third-quarter calculated remaining performance obligations (cRPO) growth surpassed the guided range of 14-15%, earning a Buy rating and a price target of $290.00 from TD Cowen. Despite slight revisions in the fiscal year 2025 subscription revenue guidance and initial fiscal year 2026 guidance, TD Cowen expressed confidence in Workday's long-term prospects.
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