Workiva Inc. (NYSE:WK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Workiva Inc. (NYSE:WK) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,633 shares of the software maker’s stock after selling 1,543 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Workiva were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp purchased a new position in shares of Workiva in the 4th quarter valued at $211,000. Atria Wealth Solutions Inc. purchased a new position in shares of Workiva in the 4th quarter valued at $237,000. Teacher Retirement System of Texas raised its stake in shares of Workiva by 29.8% in the 4th quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker’s stock valued at $840,000 after acquiring an additional 1,761 shares during the period. GAMMA Investing LLC raised its stake in shares of Workiva by 8,443.7% in the 1st quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker’s stock valued at $1,602,000 after acquiring an additional 20,856 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Workiva by 5.7% in the 4th quarter. King Luther Capital Management Corp now owns 70,360 shares of the software maker’s stock valued at $7,704,000 after acquiring an additional 3,780 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of 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 cut their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Stephens reissued an “overweight” rating and issued a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Raymond James Financial dropped their price target on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, BNP Paribas started coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.80.

Workiva Stock Down 0.0%

Shares of NYSE:WK opened at $65.80 on Friday. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The firm has a 50-day simple moving average of $68.70 and a 200 day simple moving average of $84.41. The company has a market cap of $3.67 billion, a PE ratio of -56.24 and a beta of 0.88.

Workiva (NYSE:WK) last posted its 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 for the quarter, compared to analyst estimates of $204.24 million. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. As a group, research analysts forecast that Workiva Inc. will post -0.92 EPS for the current fiscal 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.