Workiva Inc. (NYSE:WK) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its holdings in Workiva Inc. (NYSE:WK – Get Rating) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,294 shares of the software maker’s stock after purchasing an additional 10,644 shares during the period. Royal Bank of Canada owned about 0.22% of Workiva worth $8,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cullen Frost Bankers Inc. lifted its stake in Workiva by 86.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 364 shares of the software maker’s stock valued at $28,000 after buying an additional 169 shares in the last quarter. CenterStar Asset Management LLC acquired a new position in shares of Workiva during the third quarter valued at approximately $33,000. Lazard Asset Management LLC purchased a new position in shares of Workiva in the first quarter valued at approximately $82,000. Benjamin Edwards Inc. boosted its stake in shares of Workiva by 75.7% in the third quarter. Benjamin Edwards Inc. now owns 796 shares of the software maker’s stock worth $62,000 after acquiring an additional 343 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Workiva by 18.6% during the third quarter. Signaturefd LLC now owns 911 shares of the software maker’s stock worth $71,000 after purchasing an additional 143 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Michael M. Crow sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $90.20, for a total value of $360,800.00. Following the sale, the director now directly owns 14,943 shares of the company’s stock, valued at approximately $1,347,858.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert H. Herz sold 7,818 shares of the firm’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $90.51, for a total transaction of $707,607.18. Following the completion of the transaction, the director now directly owns 54,902 shares in the company, valued at approximately $4,969,180.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael M. Crow sold 4,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $90.20, for a total transaction of $360,800.00. Following the sale, the director now owns 14,943 shares in the company, valued at $1,347,858.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,249 shares of company stock valued at $4,924,271. 5.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WK shares. Citigroup upped their target price on shares of Workiva from $101.00 to $108.00 in a report on Wednesday, February 22nd. Truist Financial increased their price objective on shares of Workiva from $80.00 to $100.00 in a report on Wednesday, February 22nd. Robert W. Baird boosted their target price on Workiva from $96.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Finally, BMO Capital Markets upped their price target on Workiva from $88.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Workiva has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Workiva Stock Performance

NYSE:WK opened at $85.21 on Friday. The company’s 50-day moving average is $88.74 and its two-hundred day moving average is $79.63. Workiva Inc. has a 1-year low of $59.43 and a 1-year high of $124.76. The company has a debt-to-equity ratio of 59.31, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -49.54 and a beta of 1.15.

Workiva (NYSE:WK – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The software maker reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.20. The company had revenue of $143.80 million during the quarter, compared to analyst estimates of $139.22 million. Workiva had a negative return on equity of 1,024.28% and a negative net margin of 16.91%. Analysts forecast that Workiva Inc. will post -1.73 EPS for the current year.

Workiva Company Profile

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Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process, and people. Its platform includes Wdesk, which offers controlled collaboration, data linking, data integrations, granular permissions, process management, and a full audit trail.