Workday’s David Duffield sells $17.55 million in stock

David A. Duffield, a significant shareholder of Workday, Inc. (NASDAQ:WDAY), a prominent $66.8 billion enterprise software company with a "GOOD" financial health rating according to InvestingPro, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission.

On March 24, Duffield sold a total of 70,144 shares of Workday’s Class A common stock, resulting in proceeds of approximately $17.55 million. The sales were carried out at prices ranging from $249.3149 to $252.2582 per share. These transactions were conducted under a Rule 10b5-1 trading plan, previously adopted by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation.

Following these transactions, Duffield holds a direct ownership of 102,997 shares, with an additional 45,000 shares held indirectly through the Dave and Cheryl Duffield Foundation. The company maintains strong fundamentals with 16.35% revenue growth and solid liquidity. For comprehensive insider trading analysis and 12 additional key insights, visit InvestingPro.

In other recent news, Workday has reported impressive earnings results, surpassing expectations and boosting confidence in its growth trajectory. Scotiabank (TSX:BNS) raised its price target for Workday to $355, highlighting the company’s strong performance in the UK and Germany and its focus on artificial intelligence (AI), which is becoming a significant part of customer expansions. BMO Capital Markets also increased its price target to $314, noting Workday’s strategic use of AI as a potential catalyst for future growth. Meanwhile, Stifel raised its price target to $310, acknowledging Workday’s robust fourth-quarter performance and improved operating margins.

KeyBanc Capital Markets maintained an Overweight rating on Workday with a $335 price target, impressed by the company’s strategic positioning and growth potential. Needham reaffirmed its Buy rating and $300 price target, emphasizing Workday’s enhanced integration capabilities and competitiveness in the Student system. These developments underscore Workday’s ongoing efforts to strengthen its market position and leverage AI across its operations. The company’s financial outlook remains positive, with anticipated growth in subscription revenue and free cash flow, further solidifying its standing among investors.

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