Castleark Management LLC Buys Shares of 62,100 Workiva Inc. (NYSE:WK)

Castleark Management LLC purchased a new stake in shares of Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,100 shares of the software maker's stock, valued at approximately $6,800,000. Castleark Management LLC owned 0.11% of Workiva as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP acquired a new position in Workiva during the 4th quarter valued at about $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Workiva in the fourth quarter valued at approximately $66,000. GeoWealth Management LLC raised its holdings in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after buying an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock worth $97,000 after buying an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after buying an additional 116 shares during the period. Institutional investors own 92.21% of the company's stock.

Insider Activity at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was 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 owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now directly owns 119,054 shares in the company, valued at $10,124,352.16. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock valued at $1,807,333 over the last ninety days. Insiders own 3.86% of the company's stock.

Workiva Stock Up 1.1%

Shares of WK stock opened at $70.88 on Wednesday. The stock has a 50-day simple moving average of $73.30 and a 200 day simple moving average of $89.85. The stock has a market capitalization of $3.98 billion, a P/E ratio of -77.04 and a beta of 0.98. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83.

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 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. Workiva's revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on WK. Raymond James lowered their target price on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. BNP Paribas assumed coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets decreased their target price on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $107.90.

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.

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