T. Rowe Price Investment Management Inc. lifted its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,148,021 shares of the software maker's stock after purchasing an additional 200,220 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.88% of Workiva worth $235,209,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Twin Tree Management LP bought a new stake in Workiva in the fourth quarter worth about $25,000. GeoWealth Management LLC increased its stake in Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock worth $68,000 after purchasing an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock worth $97,000 after purchasing an additional 879 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Workiva in the 3rd quarter worth about $168,000. 92.21% of the stock is currently owned by institutional investors.
Workiva Trading Up 1.5 %
WK traded up $1.10 during trading on Tuesday, hitting $74.54. The stock had a trading volume of 157,417 shares, compared to its average volume of 494,643. The firm has a market cap of $4.18 billion, a PE ratio of -80.95 and a beta of 1.02. The company has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $90.99. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83.
Insiders Place Their Bets
In other news, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now directly owns 103,509 shares in the company, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last ninety days. Insiders own 3.86% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. BNP Paribas began 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. Raymond James upgraded shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 target price for the company in a research report on Friday, January 3rd. 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. Finally, Stifel Nicolaus cut their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Workiva has an average rating of "Moderate Buy" and an average target price of $112.90.
Get Our Latest Stock Report on Workiva
About Workiva
(
Free Report)
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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