Brown Advisory Inc. Cuts Position in Workiva Inc. (NYSE:WK)

Brown Advisory Inc. cut its stake in Workiva Inc. (NYSE:WK - Free Report) by 89.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,160 shares of the software maker's stock after selling 332,097 shares during the period. Brown Advisory Inc. owned about 0.07% of Workiva worth $3,049,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WK. Twin Tree Management LP purchased a new stake in shares of Workiva during the fourth quarter worth about $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after purchasing an additional 360 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after purchasing an additional 296 shares during the period. Global Wealth Strategies & Associates purchased a new stake in shares of Workiva during the first quarter worth about $53,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Workiva during the fourth quarter worth about $66,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Performance

WK opened at $67.28 on Friday. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The firm's fifty day moving average is $68.23 and its 200 day moving average is $81.59. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -57.51 and a beta of 0.86.

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

Analysts Set New Price Targets

WK has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens reaffirmed an "overweight" rating and set a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Raymond James Financial reduced their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Truist Financial cut their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, BNP Paribas started coverage on shares of Workiva in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.80.

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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