LMR Partners LLP Buys New Position in Workiva Inc. (NYSE:WK)

LMR Partners LLP purchased a new stake in shares of Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 147,500 shares of the software maker's stock, valued at approximately $16,151,000. LMR Partners LLP owned 0.27% of Workiva at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WK. SG Americas Securities LLC raised its stake in shares of Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock valued at $1,023,000 after buying an additional 5,475 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Workiva during the 4th quarter worth approximately $211,000. Atria Wealth Solutions Inc. acquired a new position in Workiva in the fourth quarter valued at about $237,000. Teacher Retirement System of Texas boosted its position in shares of Workiva by 29.8% during the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock worth $840,000 after buying an additional 1,761 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock valued at $499,000 after purchasing an additional 198 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Workiva Price Performance

WK stock traded down $0.46 during midday trading on Thursday, reaching $71.72. 326,018 shares of the company's stock traded hands, compared to its average volume of 523,334. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The business has a 50-day moving average price of $74.46 and a two-hundred day moving average price of $90.02. The company has a market capitalization of $4.03 billion, a P/E ratio of -77.96 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last issued its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. As a group, research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WK. Stephens began coverage on Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target for the company. BMO Capital Markets decreased their price objective 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. BNP Paribas began coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective on the stock. Truist Financial decreased their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Raymond James reduced their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.90.

Insider Activity at Workiva

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares of the company's stock, valued at $8,872,791.48. The trade was a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company's stock.

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.