G2 Investment Partners Management LLC Acquires Shares of 21,002 Workiva Inc. (NYSE:WK)

G2 Investment Partners Management LLC acquired a new stake in Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,002 shares of the software maker's stock, valued at approximately $2,300,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in Workiva in the fourth quarter worth about $25,000. Johnson Financial Group Inc. acquired a new position in shares of Workiva in the 4th quarter valued at approximately $66,000. GeoWealth Management LLC raised its holdings in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock worth $68,000 after acquiring an additional 602 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock valued at $97,000 after purchasing an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock valued at $159,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WK. BMO Capital Markets cut their price target 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. Raymond James dropped their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. BNP Paribas initiated coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target for the company. Truist Financial dropped their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, 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 research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Workiva has an average rating of "Moderate Buy" and an average target price of $107.90.

Insider Buying and Selling at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 in the last quarter. 3.86% of the stock is currently owned by corporate insiders.

Workiva Stock Down 1.4%

WK traded down $0.95 during trading hours on Friday, hitting $67.80. The stock had a trading volume of 567,979 shares, compared to its average volume of 518,926. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The company's fifty day simple moving average is $75.41 and its 200 day simple moving average is $90.32. The stock has a market cap of $3.81 billion, a PE ratio of -73.70 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analysts' expectations of $204.24 million. Workiva's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, equities analysts expect that Workiva Inc. will post -0.92 EPS for the current 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.