Xponance Inc. Lowers Position in Workiva Inc. (NYSE:WK)

Xponance Inc. cut its holdings in shares of Workiva Inc. (NYSE:WK) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,019 shares of the software maker’s stock after selling 820 shares during the quarter. Xponance Inc.’s holdings in Workiva were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Workiva by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,953,125 shares of the software maker’s stock worth $501,950,000 after purchasing an additional 63,464 shares during the period. Ameriprise Financial Inc. grew its position in Workiva by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock valued at $156,836,000 after acquiring an additional 126,094 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Workiva by 4.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,223,503 shares of the software maker’s stock valued at $123,990,000 after acquiring an additional 51,923 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Workiva by 0.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 952,730 shares of the software maker’s stock valued at $96,731,000 after acquiring an additional 5,440 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Workiva by 159.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock valued at $69,257,000 after acquiring an additional 419,640 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. 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 research report on Wednesday, February 21st. Citigroup dropped their target price on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus dropped their target price 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.63.

Insider Buying and Selling

In related 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 transaction of $1,070,919.18. Following the completion of the sale, the executive vice president now owns 62,453 shares in the company, valued at $5,846,849.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.71% of the stock is owned by company insiders.

Workiva Trading Up 0.9 %

Shares of WK opened at $80.62 on Friday. The stock has a 50-day simple moving average of $83.16 and a 200-day simple moving average of $91.32. Workiva Inc. has a 1 year low of $76.63 and a 1 year high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities analysts predict that Workiva Inc. will post -0.91 earnings per share for the current year.

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.