Brown Advisory Inc. Lowers Stock Holdings in Workiva Inc. (NYSE:WK)

Brown Advisory Inc. reduced its stake in Workiva Inc. (NYSE:WK - Free Report) by 89.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,160 shares of the software maker's stock after selling 332,097 shares during the period. Brown Advisory Inc. owned approximately 0.07% of Workiva worth $3,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after purchasing an additional 296 shares during the period. Teacher Retirement System of Texas increased its position in Workiva by 29.8% during the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock valued at $840,000 after acquiring an additional 1,761 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Workiva by 8,443.7% during the 1st quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker's stock valued at $1,602,000 after purchasing an additional 20,856 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Workiva during the 4th quarter valued at about $1,117,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Workiva by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,596 shares of the software maker's stock worth $1,488,000 after purchasing an additional 371 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on WK shares. Stephens reaffirmed an "overweight" rating and set a $95.00 target price on shares of Workiva in a report on Thursday, May 22nd. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Robert W. Baird set a $105.00 target price on shares of Workiva in a report on Wednesday, June 25th. Raymond James Financial decreased their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Stifel Nicolaus lowered their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $101.30.

Workiva Stock Down 2.6%

NYSE WK traded down $1.75 during trading on Wednesday, hitting $65.76. 555,479 shares of the stock traded hands, compared to its average volume of 542,056. The company has a market capitalization of $3.67 billion, a P/E ratio of -56.21 and a beta of 0.86. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The firm has a 50-day simple moving average of $68.23 and a 200-day simple moving average of $80.97.

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, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. The company'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 posted $0.22 EPS. As a group, research analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

About Workiva

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.