Envestnet Asset Management Inc. lowered its stake in Workiva Inc. (NYSE:WK - Free Report) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,141 shares of the software maker's stock after selling 12,493 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Workiva worth $13,143,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WK. Teacher Retirement System of Texas lifted its stake in Workiva by 13.9% during the first quarter. Teacher Retirement System of Texas now owns 8,734 shares of the software maker's stock valued at $663,000 after buying an additional 1,066 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Workiva during the first quarter valued at approximately $2,618,000. Bessemer Group Inc. raised its position in Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Workiva by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker's stock valued at $89,511,000 after acquiring an additional 14,160 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Workiva by 1.9% during the first quarter. Janney Montgomery Scott LLC now owns 19,596 shares of the software maker's stock valued at $1,488,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.
Workiva Trading Up 0.6%
Workiva stock traded up $0.39 during midday trading on Tuesday, reaching $67.07. The company's stock had a trading volume of 442,188 shares, compared to its average volume of 541,784. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The business has a 50-day moving average price of $68.12 and a 200-day moving average price of $79.87. The stock has a market cap of $3.74 billion, a PE ratio of -57.32 and a beta of 0.86.
Workiva (NYSE:WK - Get Free Report) last released its earnings results 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 company 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 firm earned $0.22 EPS. The firm's revenue was up 17.4% on a year-over-year basis. As a group, research analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on WK shares. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased their price target 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. Truist Financial cut their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. BNP Paribas began coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Raymond James Financial cut their price objective on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.30.
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Workiva Company 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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