Prime Capital Investment Advisors LLC Takes $245,000 Position in Workiva Inc. (NYSE:WK)

Prime Capital Investment Advisors LLC acquired a new stake in Workiva Inc. (NYSE:WK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,409 shares of the software maker’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC acquired a new position in Workiva during the 2nd quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new position in Workiva during the 4th quarter worth approximately $28,000. Belpointe Asset Management LLC lifted its position in Workiva by 133.8% during the 1st quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker’s stock worth $35,000 after acquiring an additional 198 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Workiva during the 3rd quarter worth approximately $54,000. Finally, Lazard Asset Management LLC acquired a new position in Workiva during the 1st quarter worth approximately $82,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael D. Hawkins sold 11,439 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the sale, the executive vice president now directly owns 62,453 shares in the company, valued at approximately $5,846,849.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on WK shares. Stifel Nicolaus reduced their price target on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. BMO Capital Markets dropped their price objective on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Finally, Citigroup dropped their price objective on Workiva from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workiva has an average rating of “Moderate Buy” and an average price target of $113.50.

Workiva Trading Down 2.6 %

Shares of NYSE WK opened at $78.47 on Friday. Workiva Inc. has a twelve month low of $78.10 and a twelve month high of $116.00. The business has a 50 day simple moving average of $85.98 and a 200-day simple moving average of $92.71.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to the consensus estimate of $164.44 million. Research analysts predict that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

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.