Handelsbanken Fonder AB purchased a new stake in Workiva Inc (NYSE:WK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,600 shares of the software maker’s stock, valued at approximately $300,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Workiva by 3.1% in the second quarter. Arizona State Retirement System now owns 7,780 shares of the software maker’s stock valued at $416,000 after buying an additional 233 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Workiva by 59.7% in the second quarter. Advisor Group Holdings Inc. now owns 685 shares of the software maker’s stock valued at $37,000 after purchasing an additional 256 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Workiva by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,515 shares of the software maker’s stock valued at $341,000 after purchasing an additional 264 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Workiva by 0.5% in the first quarter. Rhumbline Advisers now owns 49,811 shares of the software maker’s stock valued at $1,610,000 after purchasing an additional 267 shares during the last quarter. Finally, Mackay Shields LLC raised its holdings in shares of Workiva by 3.6% in the second quarter. Mackay Shields LLC now owns 11,500 shares of the software maker’s stock valued at $615,000 after purchasing an additional 400 shares during the last quarter. 64.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on WK. Goldman Sachs Group lifted their price objective on shares of Workiva from $41.00 to $52.00 in a report on Monday, June 29th. Zacks Investment Research downgraded shares of Workiva from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Robert W. Baird set a $65.00 price objective on shares of Workiva and gave the company an “outperform” rating in a report on Tuesday, July 14th. Northland Securities restated a “buy” rating on shares of Workiva in a report on Friday, September 18th. Finally, Stifel Nicolaus boosted their target price on shares of Workiva from $68.00 to $75.00 in a report on Wednesday, August 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.29.
In other Workiva news, major shareholder Jeff D. Trom sold 25,000 shares of Workiva stock in a transaction on Friday, September 25th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the transaction, the insider now directly owns 315,959 shares of the company’s stock, valued at $17,504,128.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mithun Banarjee sold 28,665 shares of Workiva stock in a transaction on Friday, August 21st. The stock was sold at an average price of $55.32, for a total transaction of $1,585,747.80. Over the last ninety days, insiders have sold 83,665 shares of company stock valued at $4,618,548. Company insiders own 14.95% of the company’s stock.
Shares of WK opened at $55.76 on Thursday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -42.24 and a beta of 1.24. Workiva Inc has a 1-year low of $22.01 and a 1-year high of $61.50. The company’s fifty day simple moving average is $55.85 and its 200 day simple moving average is $46.58. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 4.49.
Workiva (NYSE:WK) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.09. Workiva had a negative net margin of 19.34% and a negative return on equity of 79.60%. The firm had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.59 million. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Workiva Inc will post -1.19 earnings per share for the current year.
Workiva Company Profile
Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.
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