Workiva Inc. (NYSE:WK) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP boosted its stake in Workiva Inc. (NYSE:WK - Free Report) by 37.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,429 shares of the software maker's stock after buying an additional 30,829 shares during the period. Two Sigma Investments LP owned approximately 0.20% of Workiva worth $12,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Workiva during the fourth quarter worth about $59,676,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Workiva during the fourth quarter worth about $51,353,000. Point72 Asset Management L.P. acquired a new position in shares of Workiva during the fourth quarter worth about $32,863,000. T. Rowe Price Investment Management Inc. grew its position in shares of Workiva by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock worth $235,209,000 after buying an additional 200,220 shares in the last quarter. Finally, Engle Capital Management L.P. acquired a new position in shares of Workiva during the fourth quarter worth about $20,367,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets lowered their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price objective on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Truist Financial lowered their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Stephens reissued an "overweight" rating and set a $95.00 price objective on shares of Workiva in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lowered their price target on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $106.30.

Workiva Stock Up 0.3%

WK traded up $0.19 on Thursday, reaching $66.72. The company's stock had a trading volume of 52,972 shares, compared to its average volume of 526,783. The stock has a 50 day moving average of $70.80 and a two-hundred day moving average of $89.00. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -72.44 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 data 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 firm had revenue of $206.28 million during the quarter, compared to analysts' expectations of $204.24 million. During the same quarter in the prior year, the firm posted $0.22 EPS. Workiva's quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company's stock, valued at $5,236,688.14. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jill Klindt sold 5,593 shares of the firm's 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 sale, the chief financial officer now directly owns 119,054 shares in the company, valued at approximately $10,124,352.16. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,129 shares of company stock worth $1,807,333. 4.05% of the stock is owned by corporate insiders.

About Workiva

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.