Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Workiva Inc. (NYSE:WK)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Workiva Inc. (NYSE:WK) by 2.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,195 shares of the software maker’s stock after purchasing an additional 261 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workiva were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Workiva in the 3rd quarter worth $54,000. SG Americas Securities LLC bought a new position in shares of Workiva in the 4th quarter worth $107,000. GPS Wealth Strategies Group LLC raised its position in shares of Workiva by 19.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock worth $109,000 after acquiring an additional 175 shares in the last quarter. Vinva Investment Management Ltd bought a new position in shares of Workiva in the 3rd quarter worth $162,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Workiva by 261.3% in the 3rd quarter. SRS Capital Advisors Inc. now owns 2,117 shares of the software maker’s stock worth $215,000 after acquiring an additional 1,531 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Workiva Stock Performance

Shares of WK stock opened at $80.62 on Friday. The stock’s 50-day simple moving average is $83.16 and its 200-day simple moving average is $91.32. The firm has a market capitalization of $4.41 billion, a PE ratio of -34.02 and a beta of 1.03. Workiva Inc. has a fifty-two week low of $76.63 and a fifty-two week 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 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 analyst estimates of $164.44 million. Sell-side analysts forecast that Workiva Inc. will post -0.91 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on WK. Citigroup reduced their price target on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. BMO Capital Markets reduced their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their target price on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.63.

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.