Hsbc Holdings PLC Decreases Holdings in Workiva Inc. (NYSE:WK)

Hsbc Holdings PLC reduced its stake in Workiva Inc. (NYSE:WK - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,397 shares of the software maker's stock after selling 10,471 shares during the quarter. Hsbc Holdings PLC's holdings in Workiva were worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Workiva during the fourth quarter valued at approximately $25,000. GeoWealth Management LLC boosted its stake in Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after purchasing an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 worth $97,000 after purchasing an additional 879 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after buying an additional 116 shares during the last quarter. Finally, Truist Financial Corp bought a new position in Workiva during the 4th quarter valued at about $211,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

WK has been the topic of a number of research analyst reports. Stifel Nicolaus lowered 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. The Goldman Sachs Group lowered their price target on Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. BMO Capital Markets cut their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. BNP Paribas started coverage on Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 target price on the stock. Finally, Stephens started coverage on Workiva in a research note 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 issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $107.90.

Workiva Trading Up 2.9 %

Shares of WK traded up $1.92 during trading hours on Tuesday, reaching $68.17. 119,236 shares of the stock traded hands, compared to its average volume of 508,907. The company has a market cap of $3.83 billion, a P/E ratio of -74.37 and a beta of 0.98. The company's 50-day moving average price is $76.95 and its two-hundred day moving average price is $90.64. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83.

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 business had revenue of $206.28 million during the quarter, compared to analysts' expectations of $204.24 million. Workiva's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, research analysts forecast that Workiva Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares of the company's stock, valued at $8,872,791.48. This represents a 3.82 % decrease in their position. 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. Corporate insiders own 3.86% of the company's stock.

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.