Trust Point Inc. acquired a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,325 shares of the software maker's stock, valued at approximately $1,251,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WK. Cornerstone Planning Group LLC purchased a new stake in Workiva in the second quarter valued at approximately $27,000. GHP Investment Advisors Inc. purchased a new stake in shares of Workiva in the 4th quarter valued at $28,000. Belpointe Asset Management LLC lifted its stake in Workiva by 133.8% during the 1st quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker's stock worth $35,000 after acquiring an additional 198 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Workiva during the 3rd quarter valued at about $54,000. Finally, Lazard Asset Management LLC acquired a new position in Workiva in the 1st quarter valued at about $82,000. 92.21% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Workiva
In other news, EVP Michael D. Hawkins sold 11,439 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the transaction, the executive vice president now owns 62,453 shares in the company, valued at approximately $5,846,849.86. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.71% of the stock is currently owned by corporate insiders.
Workiva Price Performance
NYSE:WK remained flat at $81.36 during trading hours on Wednesday. The company had a trading volume of 341,984 shares, compared to its average volume of 397,993. Workiva Inc. has a 52-week low of $80.20 and a 52-week high of $116.00. The company has a market capitalization of $4.45 billion, a PE ratio of -34.33 and a beta of 1.03. The company has a 50-day simple moving average of $88.01 and a two-hundred day simple moving average of $93.85.
Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The business had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. As a group, analysts predict that Workiva Inc. will post -0.91 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Workiva from $123.00 to $113.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. Citigroup decreased their price target on shares of Workiva from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their price objective on Workiva from $92.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $113.50.
Check Out Our Latest Analysis on Workiva
Workiva Company Profile
(
Free Report)
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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