Bank of New York Mellon Corp Acquires 49,222 Shares of Workiva Inc. (NYSE:WK)

Bank of New York Mellon Corp raised its holdings in shares of Workiva Inc. (NYSE:WK) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,951 shares of the software maker’s stock after purchasing an additional 49,222 shares during the period. Bank of New York Mellon Corp owned 0.72% of Workiva worth $28,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Workiva during the 1st quarter valued at about $40,000. Fidelis Capital Partners LLC bought a new stake in Workiva during the 1st quarter valued at approximately $45,000. RiverPark Advisors LLC grew its holdings in shares of Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares during the period. Fifth Third Bancorp raised its position in shares of Workiva by 9.0% in the 1st quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock worth $143,000 after acquiring an additional 140 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Workiva by 7.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock valued at $168,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

WK has been the subject of a number of research reports. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Robert W. Baird dropped their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday, June 27th. Citigroup raised their target price on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Northland Securities dropped their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research report on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Workiva Stock Down 4.3 %

Shares of WK opened at $74.81 on Wednesday. Workiva Inc. has a twelve month low of $65.47 and a twelve month high of $116.00. The company has a market capitalization of $4.13 billion, a P/E ratio of -43.49 and a beta of 1.05. The firm has a 50 day moving average of $74.66 and a 200 day moving average of $78.73.

Workiva (NYSE:WK) last posted its earnings results on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to analyst estimates of $175.22 million. During the same period last year, the firm posted ($0.36) earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Workiva Inc. will post -0.86 EPS 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.