PLEASANTON, Calif.—Sayan Chakraborty, President of Product and Technology at Workday, Inc. (NASDAQ:WDAY), a prominent player in the software industry with a market capitalization of $67.9 billion, recently sold a significant portion of his holdings in the company. According to InvestingPro data, the company maintains strong financial health with robust revenue growth of 16.8% over the last twelve months. According to a recent SEC filing, Chakraborty sold a total of 5,498 shares of Workday's Class A Common Stock on November 29, 2024. The shares were sold at prices ranging from $248.9693 to $254.06, amounting to approximately $1.38 million.
Following these transactions, Chakraborty holds 122,579 shares directly and an additional 9,716 shares indirectly through the S. Chakraborty and J. Franklin Living Trust. These sales were executed under a Rule 10b5-1 trading plan, which was adopted on October 4, 2023.
In other recent news, Workday Inc (NASDAQ:WDAY). reported a 16% increase in third-quarter subscription revenue, reaching $1,559 million. However, the company adjusted its fiscal year 2026 subscription growth forecast to a slightly lower 14%. TD Cowen maintained a Buy rating on Workday, citing positive developments in the company's key new initiatives. Similarly, Oppenheimer reaffirmed an Outperform rating, emphasizing the long-term growth potential of the company. Goldman Sachs, while reducing its price target for Workday to $300, maintained its Buy rating, citing potential benefits from a more favorable macroeconomic environment and traction in Workday's AI products.
Citi increased its price target for Workday to $287, maintaining a neutral rating and highlighting the company's AI expansion, while also flagging near-term risks. Guggenheim maintained a Sell rating, expressing caution on subscription growth and valuation. Furthermore, Workday has undergone leadership changes with Doug Robinson set to retire at the end of the fiscal year, and Rob Enslin joining as President and Chief Commercial Officer. These recent developments reflect the ongoing strategic adjustments within the company as it navigates its growth objectives.
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