DekaBank Deutsche Girozentrale Cuts Stock Position in Workiva Inc. (NYSE:WK)

DekaBank Deutsche Girozentrale reduced its position in Workiva Inc. (NYSE:WK) by 98.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314 shares of the software maker’s stock after selling 16,155 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Workiva were worth $32,000 at the end of the most recent quarter.

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

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 11,439 shares of the 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 transaction, the executive vice president now owns 62,453 shares of the company’s stock, valued at approximately $5,846,849.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.71% of the company’s stock.

Workiva Price Performance

WK opened at $76.97 on Thursday. Workiva Inc. has a one year low of $76.63 and a one year high of $116.00. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -32.48 and a beta of 1.03. The business has a 50 day simple moving average of $85.08 and a two-hundred day simple moving average of $92.23.

Workiva (NYSE:WK) last announced its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, sell-side analysts expect that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.