GAMMA Investing LLC Boosts Stake in Workiva Inc. (NYSE:WK)

GAMMA Investing LLC lifted its holdings in Workiva Inc. (NYSE:WK - Free Report) by 8,443.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,103 shares of the software maker's stock after buying an additional 20,856 shares during the quarter. GAMMA Investing LLC's holdings in Workiva were worth $1,602,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Global Wealth Strategies & Associates acquired a new position in Workiva during the first quarter worth $53,000. Polar Asset Management Partners Inc. acquired a new position in Workiva during the fourth quarter worth $5,825,000. GTS Securities LLC acquired a new position in Workiva during the fourth quarter worth $212,000. Castleark Management LLC acquired a new position in Workiva during the fourth quarter worth $6,800,000. Finally, Vident Advisory LLC acquired a new position in Workiva during the fourth quarter worth $240,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Workiva Trading Down 0.1%

Shares of NYSE WK traded down $0.08 during trading on Wednesday, reaching $66.53. The company had a trading volume of 416,748 shares, compared to its average volume of 538,085. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The stock has a market capitalization of $3.71 billion, a PE ratio of -56.86 and a beta of 0.88. The stock has a 50-day moving average price of $68.92 and a two-hundred day moving average price of $86.24.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate 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. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts predict that Workiva Inc. will post -0.92 EPS for the current year.

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.