Investor s Fiduciary Advisor Network LLC Makes New Investment in Workiva Inc. (NYSE:WK)

Investor s Fiduciary Advisor Network LLC purchased a new stake in Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,560 shares of the software maker's stock, valued at approximately $827,000.

A number of other institutional investors also recently modified their holdings of the business. Twin Tree Management LP bought a new stake in Workiva during the 4th quarter valued at $25,000. Johnson Financial Group Inc. purchased a new position in shares of Workiva in the fourth quarter valued at $66,000. GeoWealth Management LLC raised its stake in shares of Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after purchasing an additional 602 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WK. Truist Financial decreased their price target on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Stephens assumed coverage on shares of Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 target price on the stock. Raymond James cut their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. BNP Paribas started coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.90.

Insider Activity

In related news, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares of the company's stock, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. This represents a 2.85 % decrease in their position. 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. Insiders own 3.86% of the company's stock.

Workiva Trading Down 1.4 %

Shares of NYSE WK opened at $67.80 on Friday. The stock's 50-day moving average is $75.41 and its 200 day moving average is $90.24. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -73.70 and a beta of 0.98. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83.

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

Workiva 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.

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