Workiva Inc. (NYSE:WK) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Workiva Inc. by 66.7% during the 1st quarter, bringing its total shares to 3,327 which were valued at $253,000.
• Several other institutional investors altered their positions, with Farther Finance Advisors LLC significantly increasing its stake by 705.9% during the same period.
• Workiva's stock price recently opened at $73.51, down 3.2%, while the company reported a 21.2% year-over-year revenue increase to $215.19 million.

Jefferies Financial Group Inc. lowered its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 66.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,327 shares of the software maker's stock after selling 6,673 shares during the period. Jefferies Financial Group Inc.'s holdings in Workiva were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WK. Farther Finance Advisors LLC raised its position in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after buying an additional 360 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Workiva in the first quarter valued at approximately $39,000. Harbour Investments Inc. acquired a new stake in shares of Workiva in the first quarter valued at approximately $39,000. Bessemer Group Inc. raised its position in shares of Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after buying an additional 296 shares in the last quarter. Finally, Global Wealth Strategies & Associates acquired a new stake in shares of Workiva in the first quarter valued at approximately $53,000. Institutional investors own 92.21% of the company's stock.

Workiva Stock Up 1.3%

WK stock traded up $0.94 during trading on Tuesday, hitting $72.92. 999,078 shares of the company's stock traded hands, compared to its average volume of 694,259. The firm has a market capitalization of $4.09 billion, a P/E ratio of -60.77 and a beta of 0.86. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The business has a fifty day simple moving average of $68.97 and a two-hundred day simple moving average of $75.73.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The company had revenue of $215.19 million for the quarter, compared to analysts' expectations of $208.92 million. Workiva's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

WK has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price target on shares of Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Robert W. Baird set a $105.00 price objective on shares of Workiva in a research report on Wednesday, June 25th. BNP Paribas started coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target on the stock. Raymond James Financial lowered their target price on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Stephens restated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $99.22.

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.