Workiva Inc. (NYSE:WK) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Workiva Inc. (NYSE:WK) by 8,443.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,103 shares of the software maker’s stock after purchasing an additional 20,856 shares during the period. GAMMA Investing LLC’s holdings in Workiva were worth $1,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WK. Global Wealth Strategies & Associates purchased a new position in Workiva in the 1st quarter valued at approximately $53,000. Polar Asset Management Partners Inc. purchased a new position in Workiva in the 4th quarter valued at approximately $5,825,000. GTS Securities LLC purchased a new position in Workiva in the 4th quarter valued at approximately $212,000. Castleark Management LLC purchased a new position in Workiva in the 4th quarter valued at approximately $6,800,000. Finally, Vident Advisory LLC purchased a new position in Workiva in the 4th quarter valued at approximately $240,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on WK shares. The Goldman Sachs Group decreased their price target on shares of Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. BNP Paribas began coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price objective on the stock. Citigroup raised their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. BMO Capital Markets reduced their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Raymond James reduced their price objective on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.30.

Workiva Stock Performance

NYSE WK opened at $65.70 on Friday. The firm has a market cap of $3.66 billion, a PE ratio of -71.41 and a beta of 0.88. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The firm’s fifty day moving average is $68.90 and its two-hundred day moving average is $86.79.

Workiva (NYSE:WK) last issued its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. Research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

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.