Aequim Alternative Investments LP Makes New Investment in Workiva Inc. (NYSE:WK)

Aequim Alternative Investments LP bought a new stake in Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,200 shares of the software maker's stock, valued at approximately $2,431,000.

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

Workiva Stock Down 9.5 %

WK stock opened at $67.31 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -73.16 and a beta of 1.02. The company's fifty day simple moving average is $77.42 and its 200 day simple moving average is $90.63. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on WK. Truist Financial cut their target price on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Citigroup raised their price objective on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Raymond James lowered their target price on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday. BMO Capital Markets reduced their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Stephens started coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Workiva has an average rating of "Moderate Buy" and an average price target of $107.90.

Insiders Place Their Bets

In related news, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over 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 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.

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