Workiva Inc. (NYSE:WK) is Riverbridge Partners LLC's 8th Largest Position

Riverbridge Partners LLC lowered its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,868,842 shares of the software maker's stock after selling 46,055 shares during the quarter. Workiva comprises approximately 2.5% of Riverbridge Partners LLC's portfolio, making the stock its 8th biggest position. Riverbridge Partners LLC owned 3.46% of Workiva worth $189,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WK. Trust Point Inc. purchased a new position in shares of Workiva in the 4th quarter worth about $1,251,000. SG Americas Securities LLC purchased a new position in shares of Workiva in the 4th quarter worth about $107,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Workiva in the 4th quarter worth about $36,581,000. Harbor Capital Advisors Inc. raised its position in shares of Workiva by 12.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,732 shares of the software maker's stock worth $988,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Workiva by 4.4% in the 4th quarter. Diversified Trust Co now owns 5,762 shares of the software maker's stock worth $585,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 11,439 shares of the company's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the sale, the executive vice president now directly owns 62,453 shares of the company's stock, valued at approximately $5,846,849.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WK shares. Citigroup decreased their target price on Workiva from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. BMO Capital Markets decreased their target price on Workiva from $123.00 to $113.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus decreased their target price on Workiva from $92.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $113.50.

Workiva Price Performance

Shares of NYSE:WK traded down $0.74 during mid-day trading on Thursday, reaching $80.62. 416,327 shares of the company traded hands, compared to its average volume of 398,274. The company's 50 day moving average price is $87.67 and its 200-day moving average price is $93.76. The firm has a market cap of $4.41 billion, a PE ratio of -34.02 and a beta of 1.03. Workiva Inc. has a 52 week low of $80.20 and a 52 week high of $116.00.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analysts' expectations of $164.44 million. On average, research analysts predict that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

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.

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