Workday’s David Duffield sells $17.2 million in stock

PLEASANTON, Calif. — David A. Duffield, a significant shareholder of Workday, Inc. (NASDAQ:WDAY), recently sold a substantial portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The company, currently valued at $69.1 billion, has demonstrated strong financial health according to InvestingPro analysis. The transactions, which took place on March 3, 2025, involved the sale of Class A Common Stock valued at approximately $17.2 million.

Duffield executed these sales through a series of transactions at prices ranging from $254.42 to $264.46 per share. The sales were carried out under a pre-established Rule 10b5-1 trading plan, a common strategy used by insiders to systematically sell shares over time.

Following these transactions, Duffield retains ownership of 102,997 shares directly, with additional holdings attributed to the Dave and Cheryl Duffield Foundation. The transactions were part of a broader plan involving the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the foundation.

As a prominent figure in the tech industry and a key stakeholder in Workday, Duffield’s trades are closely watched by investors. Workday, headquartered in Pleasanton, California, is a leading provider of enterprise cloud applications for finance and human resources.

In other recent news, Workday reported strong fourth-quarter earnings that exceeded expectations, prompting several analysts to raise their price targets for the company. Scotiabank (TSX:BNS) increased its target to $355, highlighting Workday’s impressive performance in the UK and Germany and its focus on artificial intelligence (AI). BMO Capital also raised its target to $314, noting the company’s strategic use of AI as a potential growth driver. Stifel adjusted its target to $310, acknowledging Workday’s solid financial results and optimistic outlook for fiscal year 2026. Similarly, RBC Capital increased its target to $340, citing a potential stabilization in growth and early AI adoption.

Piper Sandler, while raising its target to $290, maintained a Neutral rating due to concerns about a potential slowdown in revenue growth. Despite these concerns, Workday’s calculated remaining performance obligations (cRPO) grew by over 15%, surpassing expectations. The company’s commitment to achieving an $8.8 billion subscription revenue target for fiscal year 2026 remains strong, with an anticipated operating margin of 28%. Workday’s intensified investment in AI and operational efficiency has drawn positive attention from analysts, who are closely monitoring its impact on future financial performance.

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