Workiva Inc. (NYSE:WK) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its holdings in shares of Workiva Inc. (NYSE:WK) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 418,635 shares of the software maker’s stock after acquiring an additional 20,445 shares during the period. TimesSquare Capital Management LLC owned about 0.77% of Workiva worth $42,504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of WK. Harvest Fund Management Co. Ltd purchased a new stake in shares of Workiva during the third quarter worth about $54,000. SG Americas Securities LLC purchased a new stake in Workiva in the 4th quarter worth approximately $107,000. GPS Wealth Strategies Group LLC raised its holdings in Workiva by 19.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock valued at $109,000 after acquiring an additional 175 shares during the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Workiva during the 3rd quarter worth $162,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Workiva during the fourth quarter worth $213,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WK shares. William Blair reissued an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. BMO Capital Markets cut their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Citigroup dropped their price objective on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus reduced their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.86.

Workiva Price Performance

Shares of NYSE WK traded up $2.39 during mid-day trading on Thursday, hitting $82.54. The company had a trading volume of 298,737 shares, compared to its average volume of 374,900. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -46.88 and a beta of 1.04. The firm’s 50 day simple moving average is $82.13 and its two-hundred day simple moving average is $90.21. Workiva Inc. has a 12 month low of $76.63 and a 12 month high of $116.00.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. Equities analysts forecast that Workiva Inc. will post -0.78 earnings per share for the current year.

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.