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

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Praesidium Investment Management Company LLC boosted its position in shares of Workiva by 2.8% during 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 buying an additional 31,410 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Workiva during the third quarter worth approximately $417,000. Marshall Wace LLP acquired a new position in shares of Workiva during the third quarter worth approximately $5,420,000. Ensign Peak Advisors Inc boosted its position in shares of Workiva by 34.0% during the third quarter. Ensign Peak Advisors Inc now owns 12,380 shares of the software maker’s stock worth $963,000 after buying an additional 3,140 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Workiva by 1.3% during the third quarter. First Trust Advisors LP now owns 973,530 shares of the software maker’s stock worth $75,741,000 after buying an additional 12,647 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 posted its quarterly 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. The company had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $139.22 million. Workiva had a negative return on equity of 1,024.28% and a negative net margin of 16.91%. On average, research analysts forecast that Workiva Inc. will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Workiva

In other Workiva news, CFO Jill Klindt sold 15,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $90.20, for a total value of $1,353,000.00. Following the transaction, the chief financial officer now owns 84,399 shares of the company’s stock, valued at $7,612,789.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Workiva news, CAO Brandon Ziegler sold 10,818 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $87.67, for a total transaction of $948,414.06. Following the sale, the chief accounting officer now directly owns 97,364 shares of the company’s stock, valued at approximately $8,535,901.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jill Klindt sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $90.20, for a total transaction of $1,353,000.00. Following the sale, the chief financial officer now directly owns 84,399 shares in the company, valued at $7,612,789.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,249 shares of company stock valued at $4,924,271. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WK. Robert W. Baird boosted their price objective on Workiva from $96.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. 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. Finally, BMO Capital Markets upped their target price on Workiva from $88.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.50.

About Workiva

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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.