Brown Capital Management LLC Sells 108,613 Shares of Workiva Inc. (NYSE:WK)

Brown Capital Management LLC lessened its position in Workiva Inc. (NYSE:WK - Free Report) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 913,726 shares of the software maker's stock after selling 108,613 shares during the quarter. Workiva makes up about 1.6% of Brown Capital Management LLC's portfolio, making the stock its 23rd biggest position. Brown Capital Management LLC owned about 1.65% of Workiva worth $72,294,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Workiva during the 3rd quarter worth approximately $28,000. Quarry LP raised its position in Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after acquiring an additional 166 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Workiva in the first quarter valued at $40,000. Point72 Hong Kong Ltd bought a new position in shares of Workiva in the 2nd quarter valued at about $62,000. Finally, Headlands Technologies LLC increased its stake in shares of Workiva by 896.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker's stock worth $128,000 after purchasing an additional 1,577 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now owns 49,887 shares of the company's stock, valued at approximately $3,721,570.20. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.86% of the company's stock.

Workiva Stock Performance

NYSE:WK traded up $2.35 during mid-day trading on Thursday, reaching $94.53. 214,370 shares of the company's stock were exchanged, compared to its average volume of 376,625. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00. The business's fifty day simple moving average is $82.16 and its two-hundred day simple moving average is $78.02. The firm has a market capitalization of $5.24 billion, a PE ratio of -102.75 and a beta of 1.05.

Analyst Upgrades and Downgrades

WK has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Workiva from $85.00 to $102.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. Northland Securities decreased their target price on Workiva from $106.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. BMO Capital Markets raised their price target on Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Workiva from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. Finally, Robert W. Baird lifted their target price on shares of Workiva from $94.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Workiva has an average rating of "Moderate Buy" and an average price target of $103.20.

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.