Lazard Asset Management LLC Raises Holdings in Workiva Inc. (NYSE:WK)

Lazard Asset Management LLC lifted its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 10,282.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,573 shares of the software maker's stock after purchasing an additional 15,423 shares during the period. Lazard Asset Management LLC's holdings in Workiva were worth $1,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Twin Tree Management LP purchased a new position in Workiva during the 4th quarter worth $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Workiva during the fourth quarter worth $66,000. GeoWealth Management LLC boosted its holdings in shares of 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 acquiring an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Workiva by 14,650.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock worth $97,000 after purchasing an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after buying an additional 116 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workiva

In other Workiva news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The shares were 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 of the company's stock, valued at approximately $10,124,352.16. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares of the company's stock, valued at $8,872,791.48. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,129 shares of company stock valued at $1,807,333. 4.05% of the stock is owned by insiders.

Analyst Ratings Changes

WK has been the topic of a number of analyst reports. Citigroup lifted their price target on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Truist Financial cut their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. Stifel Nicolaus decreased 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. Finally, BNP Paribas began coverage on shares of Workiva in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.30.

Workiva Stock Down 0.7%

Shares of Workiva stock traded down $0.44 during trading on Friday, hitting $67.08. 444,818 shares of the company were exchanged, compared to its average volume of 529,079. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The firm has a 50 day moving average price of $72.09 and a 200 day moving average price of $89.52. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -72.91 and a beta of 0.98.

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 for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period last year, the firm earned $0.22 earnings per share. The business's revenue was up 17.4% compared to the same quarter last year. Analysts predict that Workiva Inc. will post -0.92 earnings per share 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.