Nicholas Investment Partners LP Buys Shares of 17,478 Workiva Inc. (NYSE:WK)

Nicholas Investment Partners LP bought a new stake in Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,478 shares of the software maker's stock, valued at approximately $1,914,000.

Several other institutional investors have also modified their holdings of the stock. Twin Tree Management LP acquired a new position in Workiva in the 4th quarter valued at about $25,000. Johnson Financial Group Inc. purchased a new stake in shares of Workiva in the 4th quarter valued at approximately $66,000. GeoWealth Management LLC raised its stake in shares of Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $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 acquiring an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling

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

Workiva Price Performance

Shares of WK stock traded down $0.81 during mid-day trading on Monday, hitting $70.66. The stock had a trading volume of 120,192 shares, compared to its average volume of 739,731. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The company's 50-day simple moving average is $73.92 and its 200-day simple moving average is $90.05. The firm has a market cap of $3.97 billion, a PE ratio of -76.80 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 EPS 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 analyst estimates of $204.24 million. During the same quarter last year, the business earned $0.22 EPS. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets cut their target price on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Truist Financial cut their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus dropped their price objective on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $107.90.

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.