T. Rowe Price Investment Management Inc. Buys 200,220 Shares of Workiva Inc. (NYSE:WK)

T. Rowe Price Investment Management Inc. raised its position in Workiva Inc. (NYSE:WK - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,148,021 shares of the software maker's stock after buying 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Workiva by 141.6% during the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock worth $1,023,000 after acquiring an additional 5,475 shares in the last quarter. Nordea Investment Management AB acquired a new position in Workiva during the 4th quarter worth approximately $59,894,000. Truist Financial Corp bought a new position in Workiva in the 4th quarter valued at approximately $211,000. World Investment Advisors LLC bought a new position in Workiva in the 3rd quarter valued at approximately $396,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Workiva in the fourth quarter valued at approximately $237,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens assumed coverage on Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target for the company. Stifel Nicolaus dropped their target price on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. BNP Paribas initiated coverage on shares of Workiva in a report on Tuesday. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Citigroup boosted their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $112.90.

Workiva Price Performance

Shares of WK traded up $0.87 during trading hours on Friday, hitting $73.51. 269,461 shares of the stock were exchanged, compared to its average volume of 496,365. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The business has a 50-day moving average of $78.64 and a 200-day moving average of $90.94. The firm has a market capitalization of $4.13 billion, a P/E ratio of -79.90 and a beta of 1.02.

Insiders Place Their Bets

In other news, Director Robert H. Herz sold 1,000 shares of the 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 transaction, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now directly owns 61,298 shares of the company's stock, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 3.86% of the company's stock.

About Workiva

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.