TD Asset Management Inc Sells 5,112 Shares of Workiva Inc. (NYSE:WK)

Key Points

• TD Asset Management Inc decreased its stake in Workiva Inc. by 10% in the first quarter, selling 5,112 shares, and now holds approximately 0.08% of the company's stock valued at $3,490,000.
• Workiva's stock is currently trading at $84.46, with a market capitalization of $4.71 billion, and has shown a year-over-year revenue growth of 21.2%.
• Wall Street analysts have a consensus "buy" rating for Workiva, with revised average price targets ranging between $95.00 and $105.00.

TD Asset Management Inc cut its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,974 shares of the software maker's stock after selling 5,112 shares during the period. TD Asset Management Inc owned approximately 0.08% of Workiva worth $3,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased 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 valued at $235,209,000 after acquiring an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Workiva by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker's stock valued at $89,511,000 after purchasing an additional 14,160 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Workiva by 3.0% in the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock worth $90,252,000 after buying an additional 24,172 shares during the last quarter. Northern Trust Corp increased its holdings in Workiva by 6.9% during the fourth quarter. Northern Trust Corp now owns 596,466 shares of the software maker's stock worth $65,313,000 after buying an additional 38,633 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Workiva by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 588,428 shares of the software maker's stock valued at $64,433,000 after acquiring an additional 1,909 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird set a $105.00 price objective on Workiva in a research note on Wednesday, June 25th. The Goldman Sachs Group lowered their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James Financial cut their price target on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday. Citigroup restated a "buy" rating and issued a $105.00 target price (down previously from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Finally, Stifel Nicolaus lowered their price target on shares of Workiva from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Workiva has an average rating of "Buy" and an average price target of $99.22.

Workiva Price Performance

Shares of Workiva stock traded down $2.60 during trading on Tuesday, reaching $80.24. 401,138 shares of the stock traded hands, compared to its average volume of 680,579. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The business has a fifty day simple moving average of $68.12 and a two-hundred day simple moving average of $76.74. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -66.86 and a beta of 0.86.

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, beating analysts' consensus estimates of $0.05 by $0.14. The business had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. During the same period last year, the business posted $0.16 earnings per share. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

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.