TimesSquare Capital Management LLC trimmed its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 15.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,851 shares of the software maker's stock after selling 87,110 shares during the quarter. TimesSquare Capital Management LLC owned 0.84% of Workiva worth $35,894,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Twin Tree Management LP purchased a new position in shares of Workiva in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC raised its holdings in Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after acquiring an additional 360 shares in the last quarter. Bessemer Group Inc. lifted its stake in Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in Workiva in the first quarter worth approximately $53,000. Finally, Johnson Financial Group Inc. acquired a new position in Workiva during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 92.21% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on WK. Stifel Nicolaus reduced their price objective on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. BNP Paribas began coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target on the stock. Raymond James Financial decreased their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stephens reiterated an "overweight" rating and issued a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group decreased their target price on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Workiva currently has an average rating of "Moderate Buy" and a consensus target price of $101.30.
Read Our Latest Research Report on WK
Workiva Price Performance
Shares of WK traded up $0.72 during midday trading on Thursday, reaching $66.39. 580,299 shares of the stock were exchanged, compared to its average volume of 542,035. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -56.75 and a beta of 0.86. The business's 50-day moving average price is $68.14 and its 200 day moving average price is $80.57.
Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. During the same quarter in the prior year, the business earned $0.22 EPS. The company's quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts expect that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.
About Workiva
(
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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