Price T Rowe Associates Inc. MD Has $12.21 Million Holdings in Workiva Inc. (NYSE:WK)

Price T Rowe Associates Inc. MD lowered its holdings in Workiva Inc. (NYSE:WK - Free Report) by 37.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,457 shares of the software maker's stock after selling 68,095 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.20% of Workiva worth $12,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Workiva in the 4th quarter valued at about $59,676,000. Nordea Investment Management AB bought a new position in Workiva in the fourth quarter valued at approximately $59,894,000. Arrowstreet Capital Limited Partnership acquired a new position in Workiva during the fourth quarter valued at approximately $51,353,000. Conestoga Capital Advisors LLC raised its position in 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 purchasing an additional 140,310 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in Workiva by 19.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock worth $61,316,000 after purchasing an additional 92,192 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WK shares. BMO Capital Markets lowered their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stephens started coverage on shares of Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target on the stock. Truist Financial dropped their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, The Goldman Sachs Group decreased their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $107.90.

Workiva Stock Up 0.1 %

WK traded up $0.04 during midday trading on Thursday, hitting $67.81. 92,365 shares of the company were exchanged, compared to its average volume of 512,636. The firm has a market capitalization of $3.81 billion, a P/E ratio of -73.71 and a beta of 0.98. The firm's 50 day moving average price is $76.16 and its 200-day moving average price is $90.33. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. During the same period in the prior year, the company posted $0.22 EPS. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the 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 transaction, the director now owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 over the last three months. 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.