Workiva Inc. (NYSE:WK) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its holdings in shares of Workiva Inc. (NYSE:WK – Get Rating) by 70.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 894,720 shares of the software maker’s stock after selling 2,127,337 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Workiva were worth $69,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WK. Vanguard Group Inc. lifted its position in Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 4,316,544 shares of the software maker’s stock worth $509,353,000 after purchasing an additional 149,693 shares during the period. Riverbridge Partners LLC lifted its position in Workiva by 35.7% in the third quarter. Riverbridge Partners LLC now owns 2,237,245 shares of the software maker’s stock worth $174,058,000 after purchasing an additional 588,095 shares during the period. Brown Advisory Inc. lifted its position in Workiva by 4.0% in the third quarter. Brown Advisory Inc. now owns 1,658,915 shares of the software maker’s stock worth $129,064,000 after purchasing an additional 63,109 shares during the period. Artisan Partners Limited Partnership lifted its position in Workiva by 11.4% in the third quarter. Artisan Partners Limited Partnership now owns 1,310,501 shares of the software maker’s stock worth $101,957,000 after purchasing an additional 133,586 shares during the period. Finally, Praesidium Investment Management Company LLC lifted its position in Workiva by 2.8% in the third quarter. Praesidium Investment Management Company LLC now owns 1,143,886 shares of the software maker’s stock worth $88,994,000 after purchasing an additional 31,410 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Workiva Price Performance

NYSE WK opened at $86.19 on Tuesday. The stock has a market capitalization of $4.58 billion, a P/E ratio of -48.42 and a beta of 1.15. Workiva Inc. has a 1 year low of $59.43 and a 1 year high of $124.76. The business’s fifty day moving average is $88.74 and its two-hundred day moving average is $79.76. The company has a debt-to-equity ratio of 59.31, a quick ratio of 1.47 and a current ratio of 1.47.

Workiva (NYSE:WK – Get Rating) last announced its earnings results on Tuesday, February 21st. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.20. Workiva had a negative net margin of 16.91% and a negative return on equity of 1,024.28%. The company had revenue of $143.80 million for the quarter, compared to the consensus estimate of $139.22 million. On average, research analysts forecast that Workiva Inc. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WK shares. Citigroup upped their target price on Workiva from $101.00 to $108.00 in a research report on Wednesday, February 22nd. Truist Financial upped their target price on Workiva from $80.00 to $100.00 in a research report on Wednesday, February 22nd. Robert W. Baird upped their price target on Workiva from $96.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Finally, BMO Capital Markets upped their price target on Workiva from $88.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Insider Buying and Selling at Workiva

In other Workiva news, Director Robert H. Herz sold 9,182 shares of the business’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $90.07, for a total transaction of $827,022.74. Following the sale, the director now directly owns 62,720 shares of the company’s stock, valued at approximately $5,649,190.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert H. Herz sold 9,182 shares of the company’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $90.07, for a total value of $827,022.74. Following the transaction, the director now directly owns 62,720 shares of the company’s stock, valued at $5,649,190.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. Herz sold 7,818 shares of the company’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $90.51, for a total transaction of $707,607.18. Following the completion of the transaction, the director now directly owns 54,902 shares in the company, valued at $4,969,180.02. The disclosure for this sale can be found here. Insiders have sold a total of 55,249 shares of company stock valued at $4,924,271 in the last three months. 5.70% of the stock is currently owned by company insiders.

Workiva Profile

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Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process, and people. Its platform includes Wdesk, which offers controlled collaboration, data linking, data integrations, granular permissions, process management, and a full audit trail.