Cetera Investment Advisers Sells 414 Shares of Workiva Inc. (NYSE:WK)

Cetera Investment Advisers trimmed its position in Workiva Inc. (NYSE:WK) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,209 shares of the software maker’s stock after selling 414 shares during the quarter. Cetera Investment Advisers’ holdings in Workiva were worth $1,994,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Workiva by 141.6% in the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock worth $1,023,000 after purchasing an additional 5,475 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Workiva in the fourth quarter worth about $211,000. Atria Wealth Solutions Inc. bought a new stake in shares of Workiva in the fourth quarter worth about $237,000. Teacher Retirement System of Texas increased its holdings in shares of Workiva by 29.8% in the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker’s stock worth $840,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after purchasing an additional 198 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Workiva Price Performance

Shares of NYSE:WK opened at $70.07 on Tuesday. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The business has a 50 day simple moving average of $73.58 and a two-hundred day simple moving average of $89.98. The firm has a market capitalization of $3.93 billion, a PE ratio of -76.16 and a beta of 0.98.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million during the quarter, compared to analysts’ expectations of $204.24 million. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Equities research analysts expect that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WK has been the topic of several analyst reports. Citigroup boosted their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BNP Paribas initiated coverage on Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective on the stock. Truist Financial reduced their price objective on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus reduced their price objective on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Stephens initiated coverage on Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Insider Activity at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. This represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,129 shares of company stock worth $1,807,333. Company insiders own 3.86% of the company’s stock.

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.