Workiva Inc. (NYSE:WK) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in shares of Workiva Inc. (NYSE:WK) by 7.5% during the first quarter, Holdings Channel.com reports. The fund owned 30,385 shares of the software maker’s stock after selling 2,480 shares during the quarter. HighTower Advisors LLC’s holdings in Workiva were worth $3,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp grew its holdings in Workiva by 2.5% during the first quarter. King Luther Capital Management Corp now owns 60,260 shares of the software maker’s stock worth $6,171,000 after acquiring an additional 1,488 shares during the period. ExodusPoint Capital Management LP purchased a new position in Workiva in the 1st quarter worth about $1,826,000. Rhumbline Advisers increased its stake in Workiva by 2.4% in the 1st quarter. Rhumbline Advisers now owns 68,342 shares of the software maker’s stock worth $6,999,000 after purchasing an additional 1,611 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Workiva in the 1st quarter worth about $345,000. Finally, Commonwealth Equity Services LLC increased its stake in Workiva by 49.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,613 shares of the software maker’s stock worth $1,189,000 after purchasing an additional 3,856 shares in the last quarter. 83.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael M. Crow sold 3,500 shares of Workiva stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $100.46, for a total transaction of $351,610.00. Following the completion of the sale, the director now directly owns 11,443 shares in the company, valued at approximately $1,149,563.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.71% of the stock is owned by corporate insiders.

Workiva Trading Up 0.4 %

Shares of NYSE WK opened at $111.98 on Friday. The firm has a market capitalization of $6.01 billion, a PE ratio of -54.10 and a beta of 1.08. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2,262.59. Workiva Inc. has a one year low of $60.28 and a one year high of $113.32. The business has a 50-day moving average price of $103.19 and a two-hundred day moving average price of $97.85.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.18. The business had revenue of $155.02 million during the quarter, compared to analyst estimates of $153.40 million. Workiva had a negative return on equity of 26,521.01% and a negative net margin of 19.02%. As a group, analysts predict that Workiva Inc. will post -1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WK. The Goldman Sachs Group lifted their price target on Workiva from $108.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Wolfe Research began coverage on Workiva in a research note on Monday, August 28th. They issued an “outperform” rating and a $120.00 price target on the stock. Robert W. Baird lifted their price target on Workiva from $106.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Northland Securities raised their price objective on Workiva from $90.00 to $115.00 in a research report on Friday, August 4th. Finally, StockNews.com began coverage on Workiva in a research report on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.