Raymond James Financial Inc. Invests $5.76 Million in Workiva Inc. (NYSE:WK)

Raymond James Financial Inc. purchased a new stake in Workiva Inc. (NYSE:WK) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 52,588 shares of the software maker’s stock, valued at approximately $5,758,000.

Several other institutional investors have also added to or reduced their stakes in WK. Nisa Investment Advisors LLC raised its position in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Workiva during the 3rd quarter worth approximately $168,000. Quantinno Capital Management LP purchased a new position in shares of Workiva during the 3rd quarter valued at approximately $207,000. Truist Financial Corp acquired a new position in shares of Workiva in the 4th quarter valued at $211,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Workiva during the fourth quarter worth $219,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WK shares. Robert W. Baird raised their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group boosted their price target on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. BMO Capital Markets decreased their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.25.

Workiva Stock Performance

Shares of Workiva stock opened at $87.28 on Tuesday. The stock has a 50 day moving average of $93.96 and a 200 day moving average of $92.15. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

Insider Transactions at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva 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 transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by company insiders.

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.