Workday (WDAY) major shareholder sells $17.3M in stock

David A. Duffield, a major shareholder of Workday, Inc. (NASDAQ:WDAY), sold 62,251 shares of Class A Common Stock on July 8, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The sales were executed at weighted average prices ranging from $237.758 to $242.3175, resulting in a total transaction value of $17,384,110. Workday, a prominent player in the software industry with a market capitalization of $61.2 billion, has demonstrated strong financial health with a current ratio of 2.07 and revenue growth of ~15% over the last twelve months. According to InvestingPro analysis, the company currently appears overvalued based on its Fair Value metrics.

The filing indicates that the sales were conducted under a pre-arranged Rule 10b5-1 trading plan. InvestingPro subscribers can access 10+ additional exclusive insights about Workday’s valuation and financial health, along with comprehensive Pro Research Reports that provide deep-dive analysis of the company’s performance and prospects.

On the same day, Duffield also converted 72,551 shares of Class B Common Stock to Class A Common Stock. The company maintains a strong balance sheet, with more cash than debt and liquid assets exceeding short-term obligations.

In other recent news, Workday has been active in the AI space, unveiling its new Workday Agent Partner Network alongside the Agent Gateway platform. This initiative aims to integrate AI agents across various systems, collaborating with tech giants like Accenture (NYSE:ACN), Adobe (NASDAQ:ADBE), and Microsoft (NASDAQ:MSFT). Furthermore, Workday introduced a suite of AI development tools designed to enhance productivity and innovation for enterprise developers, including AI Widgets and expanded AI Gateway APIs. These tools are expected to be available by the end of 2025.

Meanwhile, Piper Sandler downgraded Workday’s stock from Neutral to Underweight, citing concerns over potential AI-driven headcount reductions and a reduced free cash flow margin projection for 2029. In contrast, Oppenheimer reaffirmed its Outperform rating on Workday, highlighting a positive outlook on the company’s AI positioning and market opportunities. The firm maintains a long-term positive view, citing Workday’s potential benefits from the AI cycle and improved sales efficiency.

Additionally, Workday announced its annual conference, Workday Rising 2025, scheduled to take place in San Francisco. The event will focus on AI innovations and feature keynotes from industry leaders, including Workday executives and renowned researcher Brené Brown. With over 400 sessions planned, the conference aims to provide insights into AI’s role in enhancing talent strategies and financial processes.

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