Brown Advisory Inc. Sells 275,019 Shares of Workiva Inc. (NYSE:WK)

Brown Advisory Inc. reduced its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 42.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,257 shares of the software maker's stock after selling 275,019 shares during the quarter. Brown Advisory Inc. owned approximately 0.67% of Workiva worth $40,762,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Workiva by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock worth $635,108,000 after buying an additional 70,820 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Workiva by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock worth $235,209,000 after acquiring an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock valued at $127,570,000 after acquiring an additional 140,310 shares in the last quarter. First Trust Advisors LP boosted its stake in Workiva by 3.0% in the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock worth $90,252,000 after purchasing an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Workiva by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after purchasing an additional 86,207 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James lowered their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday. Stephens began coverage on Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target for the company. Stifel Nicolaus cut their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Friday. Citigroup lifted their target price on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their price target on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Workiva currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.90.

Workiva Stock Performance

WK stock opened at $66.25 on Tuesday. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The firm's fifty day moving average is $76.95 and its 200 day moving average is $90.64. The firm has a market cap of $3.72 billion, a PE ratio of -72.01 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analysts' expectations of $204.24 million. Workiva's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares of the company's stock, valued at approximately $8,872,791.48. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by company insiders.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.

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