PLEASANTON, Calif.—Carl M. Eschenbach, CEO of Workday, Inc. (NASDAQ:WDAY), a $66.35 billion market cap company, recently sold a significant portion of his holdings in the company's Class A Common Stock. According to a filing with the Securities and Exchange Commission, Eschenbach sold shares totaling approximately $1.59 million on January 6, 2025. The transactions occurred at prices ranging from $252.87 to $257.51 per share.
The sales were executed through the Eschenbach Family Trust, with Carl Eschenbach Jr. and Ana Eschenbach serving as trustees. This activity followed a pre-established Rule 10b5-1 trading plan, which was adopted by the trust on October 7, 2024.
Following these transactions, Eschenbach retains ownership of 13,972 shares indirectly through the trust. Additionally, a prior transaction on January 5, 2025, involved the disposition of 1,213 shares to satisfy tax withholding obligations related to the vesting of performance-restricted stock units, valued at $306,694.
Workday, based in Pleasanton, California, is a provider of enterprise cloud applications for finance and human resources. The company maintains strong financial health with a 75.6% gross margin and 16.8% revenue growth in the last twelve months. According to InvestingPro analysis, the stock currently trades at a premium to its Fair Value, with 12 more exclusive insights available to subscribers.
In other recent news, Workday has seen significant updates from analysts and market indices. Guggenheim upgraded Workday's stock from Sell to Neutral, citing the company's realistic guidance and a shift in growth dynamics. The company's subscription revenue growth has decelerated, with 18.6% and 16.7% increases in FY24 and FY25 respectively. RBC Capital Markets has also upgraded Workday's share target, attributing this to a 16.8% revenue growth and a robust liquidity position.
Workday is set to join the S&P 500 Index, reflecting the company's strong market capitalization and liquidity. This inclusion in the index is a significant event for the company. The company has also reported a 16% increase in Q3 subscription revenue, but has adjusted its FY26 subscription growth forecast to a slightly lower 14%.
Analysts from various firms have responded to these developments. TD Cowen and Oppenheimer have maintained their positive ratings, while Goldman Sachs has reduced its price target but sustained a Buy rating. Piper Sandler analysts, following their 2025 CIO Survey, indicated a strong outlook for IT spending, which could benefit companies like Workday. These are all recent developments, providing investors with an updated overview of Workday's current standing.
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