Riverbridge Partners LLC reduced its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,536,450 shares of the software maker's stock after selling 109,875 shares during the quarter. Workiva comprises 1.9% of Riverbridge Partners LLC's portfolio, making the stock its 16th biggest position. Riverbridge Partners LLC owned 2.74% of Workiva worth $116,632,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Workiva during the fourth quarter worth $25,000. Farther Finance Advisors LLC lifted its stake in Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in Workiva in the 1st quarter valued at about $53,000. Johnson Financial Group Inc. acquired a new position in Workiva during the fourth quarter worth approximately $66,000. Finally, GeoWealth Management LLC raised its stake in Workiva by 3,010.0% in the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after buying an additional 602 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Workiva Stock Down 1.7%
Workiva stock traded down $1.16 during mid-day trading on Friday, hitting $65.44. 728,123 shares of the stock were exchanged, compared to its average volume of 538,842. The firm's fifty day simple moving average is $68.92 and its two-hundred day simple moving average is $86.02. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -55.93 and a beta of 0.88.
Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. During the same period last year, the business posted $0.22 earnings per share. The business's revenue was up 17.4% on a year-over-year basis. As a group, analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. BNP Paribas began coverage on Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective on the stock. Stephens reaffirmed an "overweight" rating and set a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets decreased their target price on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.30.
Get Our Latest Stock Analysis on Workiva
Workiva Profile
(
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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