Abacus Planning Group Inc. lifted its position in Workiva Inc. (NYSE:WK - Free Report) by 2,508.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,954 shares of the software maker's stock after buying an additional 50,924 shares during the period. Workiva makes up 0.7% of Abacus Planning Group Inc.'s holdings, making the stock its 24th largest position. Abacus Planning Group Inc. owned about 0.09% of Workiva worth $4,020,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Truist Financial Corp bought a new stake in Workiva during the fourth quarter worth approximately $211,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Workiva during the 4th quarter valued at $237,000. Teacher Retirement System of Texas boosted its stake in shares of Workiva by 29.8% during the 4th quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock worth $840,000 after acquiring an additional 1,761 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Workiva by 5.7% in the 4th quarter. King Luther Capital Management Corp now owns 70,360 shares of the software maker's stock worth $7,704,000 after acquiring an additional 3,780 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Workiva by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 27,170 shares of the software maker's stock worth $2,975,000 after acquiring an additional 383 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.
Workiva Price Performance
WK traded down $0.79 on Wednesday, reaching $67.91. 433,454 shares of the company traded hands, compared to its average volume of 533,498. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -73.82 and a beta of 0.88. The stock's 50 day moving average price is $68.79 and its 200-day moving average price is $87.44. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83.
Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company's revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Workiva news, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.05% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. BNP Paribas initiated coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective for the company. Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Citigroup boosted their price target on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.30.
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Workiva Profile
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Free Report)
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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