Jefferies Financial Group Inc. Sells 6,673 Shares of Workiva Inc. (NYSE:WK)

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. cut its stake 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Harbour Investments Inc. purchased a new position in shares of Workiva in the first quarter valued at approximately $39,000. Bayforest Capital Ltd purchased a new position in shares of Workiva in the first quarter valued at approximately $39,000. XTX Topco Ltd boosted its stake in shares of Workiva by 305.4% in the first quarter. XTX Topco Ltd now owns 25,562 shares of the software maker's stock valued at $1,940,000 after purchasing an additional 19,257 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Workiva in the first quarter valued at approximately $877,000. Finally, Summit Creek Advisors LLC purchased a new position in shares of Workiva in the first quarter valued at approximately $5,219,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. The Goldman Sachs Group reduced their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Citigroup restated a "buy" rating and set a $105.00 price objective (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Stifel Nicolaus dropped their price objective on shares of Workiva from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, BNP Paribas assumed coverage on shares of Workiva in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Workiva currently has a consensus rating of "Buy" and a consensus price target of $99.22.

Workiva Stock Performance

Shares of Workiva stock traded up $2.46 during trading on Wednesday, hitting $75.38. 216,195 shares of the stock traded hands, compared to its average volume of 691,249. The stock has a market cap of $4.22 billion, a P/E ratio of -62.62 and a beta of 0.86. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The company has a fifty day moving average price of $69.05 and a two-hundred day moving average price of $75.71.

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

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.