Russell Investments Group Ltd. Trims Position in Workiva Inc. (NYSE:WK)

Russell Investments Group Ltd. lessened its stake in Workiva Inc. (NYSE:WK) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,355 shares of the software maker’s stock after selling 18,775 shares during the quarter. Russell Investments Group Ltd.’s holdings in Workiva were worth $9,681,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Workiva by 16.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,934 shares of the software maker’s stock valued at $1,007,000 after buying an additional 1,389 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Workiva during the third quarter worth about $279,000. GPS Wealth Strategies Group LLC lifted its holdings in Workiva by 19.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock worth $109,000 after buying an additional 175 shares during the last quarter. Strs Ohio raised its position in shares of Workiva by 9.4% during the 3rd quarter. Strs Ohio now owns 5,800 shares of the software maker’s stock valued at $587,000 after acquiring an additional 500 shares in the last quarter. Finally, Advisor Partners II LLC acquired a new position in shares of Workiva in the 3rd quarter valued at about $349,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Performance

Workiva stock opened at $81.87 on Tuesday. The business has a 50 day simple moving average of $82.27 and a 200 day simple moving average of $90.39. Workiva Inc. has a one year low of $76.63 and a one year high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS 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. As a group, sell-side analysts anticipate that Workiva Inc. will post -0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WK has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. BMO Capital Markets lowered their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus decreased their target price on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.86.

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.