Workiva Inc. (NYSE:WK) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in Workiva Inc. (NYSE:WK) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,076 shares of the software maker’s stock after selling 275 shares during the quarter. Raymond James & Associates’ holdings in Workiva were worth $3,561,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WK. MetLife Investment Management LLC increased its stake in Workiva by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 22,917 shares of the software maker’s stock valued at $2,704,000 after buying an additional 8,109 shares during the period. Rhumbline Advisers increased its stake in Workiva by 3.2% in the 1st quarter. Rhumbline Advisers now owns 44,602 shares of the software maker’s stock valued at $5,263,000 after buying an additional 1,366 shares during the period. Sei Investments Co. increased its stake in Workiva by 34.7% in the 1st quarter. Sei Investments Co. now owns 125,714 shares of the software maker’s stock valued at $14,834,000 after buying an additional 32,360 shares during the period. Vanguard Group Inc. grew its stake in shares of Workiva by 3.6% during the 1st 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. Finally, Prudential Financial Inc. grew its stake in shares of Workiva by 13.3% during the 1st quarter. Prudential Financial Inc. now owns 5,359 shares of the software maker’s stock worth $632,000 after purchasing an additional 630 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Workiva from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus lowered their price target on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, February 21st. Finally, BMO Capital Markets lowered their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.50.

Workiva Stock Down 2.8 %

Workiva stock opened at $78.38 on Friday. Workiva Inc. has a 52 week low of $78.10 and a 52 week high of $116.00. The firm’s 50-day simple moving average is $85.98 and its 200 day simple moving average is $92.75. The firm has a market capitalization of $4.29 billion, a PE ratio of -33.07 and a beta of 1.03.

Workiva (NYSE:WK) last released its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. On average, research analysts expect that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the transaction, the executive vice president now directly owns 62,453 shares in the company, valued at approximately $5,846,849.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.71% of the company’s stock.

Workiva Company 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.