Moody Aldrich Partners LLC Sells 17,281 Shares of Workiva Inc. (NYSE:WK)

Moody Aldrich Partners LLC decreased its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,247 shares of the software maker's stock after selling 17,281 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.08% of Workiva worth $4,594,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in shares of Workiva during the second quarter worth about $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Workiva during the fourth quarter worth about $28,000. Belpointe Asset Management LLC boosted its stake in shares of Workiva by 133.8% during the first quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker's stock worth $35,000 after buying an additional 198 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Workiva during the third quarter worth about $54,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Workiva during the first quarter worth about $82,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Price Performance

Shares of WK stock traded up $3.01 during midday trading on Tuesday, reaching $84.41. 240,650 shares of the company traded hands, compared to its average volume of 391,751. The firm's 50 day simple moving average is $86.86 and its two-hundred day simple moving average is $93.10. Workiva Inc. has a 1-year low of $80.20 and a 1-year high of $116.00. The firm has a market cap of $4.62 billion, a PE ratio of -35.62 and a beta of 1.03.

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

Insider Activity

In other news, EVP Michael D. Hawkins sold 11,439 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 5.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WK. Citigroup decreased their target price on shares of Workiva from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus reduced their price objective on shares of Workiva from $92.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, February 21st. Finally, BMO Capital Markets reduced their price objective on shares of Workiva from $123.00 to $113.00 and set an "outperform" 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 issued a buy rating to the stock. According to MarketBeat, Workiva currently has a consensus rating of "Moderate Buy" and an average price target of $113.50.

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.