Engle Capital Management L.P. Buys New Holdings in Workiva Inc. (NYSE:WK)

Engle Capital Management L.P. acquired a new position in Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 186,000 shares of the software maker's stock, valued at approximately $20,367,000. Workiva makes up 6.1% of Engle Capital Management L.P.'s investment portfolio, making the stock its 5th biggest holding. Engle Capital Management L.P. owned 0.34% of Workiva at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Workiva by 141.6% in the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock worth $1,023,000 after acquiring an additional 5,475 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Workiva in the 4th quarter worth $211,000. Atria Wealth Solutions Inc. purchased a new position in shares of Workiva in the 4th quarter worth $237,000. Teacher Retirement System of Texas lifted its position in Workiva by 29.8% during the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock valued at $840,000 after purchasing an additional 1,761 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock valued at $499,000 after purchasing an additional 198 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WK. Stephens assumed coverage on Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target on the stock. Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their price target on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Raymond James reduced their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.90.

Workiva Trading Up 4.6%

Shares of Workiva stock traded up $3.11 on Monday, reaching $70.68. 1,080,029 shares of the stock were exchanged, compared to its average volume of 521,171. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The firm has a market capitalization of $3.97 billion, a PE ratio of -76.83 and a beta of 0.98. The business has a fifty day moving average price of $75.04 and a two-hundred day moving average price of $90.27.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.22 earnings per share. The company's revenue was up 17.4% on a year-over-year basis. Research analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling at Workiva

In other 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 owns 103,509 shares of the company's stock, valued at $8,872,791.48. This represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock worth $1,807,333 over the last three months. Corporate insiders own 3.86% of the company's stock.

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.