AQR Capital Management LLC Reduces Position in Workiva Inc. (NYSE:WK)

AQR Capital Management LLC trimmed its stake in Workiva Inc. (NYSE:WK - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,529 shares of the software maker's stock after selling 9,346 shares during the period. AQR Capital Management LLC owned 0.08% of Workiva worth $4,985,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings 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 in the last quarter. Truist Financial Corp bought a new stake in Workiva during the fourth quarter worth about $211,000. Atria Wealth Solutions Inc. purchased a new stake in Workiva in the fourth quarter worth about $237,000. Teacher Retirement System of Texas lifted its holdings 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 valued at $840,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Workiva by 4.5% in the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Workiva Price Performance

Shares of WK traded down $0.95 during trading hours on Friday, hitting $67.80. The stock had a trading volume of 567,979 shares, compared to its average volume of 518,926. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a fifty day moving average price of $75.41 and a 200 day moving average price of $90.32. The firm has a market capitalization of $3.81 billion, a PE ratio of -73.70 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. Workiva's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. As a group, analysts anticipate that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Workiva news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the transaction, the chief financial officer now owns 119,054 shares of the company's stock, valued at $10,124,352.16. The trade was a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was 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 directly owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on WK. BMO Capital Markets lowered their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. BNP Paribas assumed coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Stephens began coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Workiva presently has an average rating of "Moderate Buy" and a consensus target price of $107.90.

Workiva 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.