Polar Asset Management Partners Inc. Makes New Investment in Workiva Inc. (NYSE:WK)

Polar Asset Management Partners Inc. bought a new position in Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 53,200 shares of the software maker's stock, valued at approximately $5,825,000. Polar Asset Management Partners Inc. owned 0.10% of Workiva as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after purchasing an additional 70,820 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Workiva by 10.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock worth $235,209,000 after buying an additional 200,220 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock worth $127,570,000 after buying an additional 140,310 shares during the period. First Trust Advisors LP raised its stake in Workiva by 3.0% in the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock worth $90,252,000 after purchasing an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after purchasing an additional 86,207 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Trading Down 0.6%

NYSE WK traded down $0.42 on Wednesday, hitting $70.50. 131,988 shares of the company were exchanged, compared to its average volume of 523,842. The company has a market cap of $3.96 billion, a PE ratio of -76.63 and a beta of 0.98. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a fifty day moving average of $73.30 and a 200-day moving average of $89.85.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business's quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on WK shares. BNP Paribas began coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective for the company. Raymond James decreased their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group reduced their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus reduced their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial dropped their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $107.90.

Insider Activity

In related news, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at $5,236,688.14. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 over the last quarter. Insiders own 3.86% of the company's stock.

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.