Envestnet Asset Management Inc. Has $13.14 Million Holdings in Workiva Inc. (NYSE:WK)

Envestnet Asset Management Inc. lessened its holdings in Workiva Inc. (NYSE:WK) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,141 shares of the software maker’s stock after selling 12,493 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Workiva worth $13,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Workiva by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after acquiring an additional 70,820 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Workiva by 10.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock worth $235,209,000 after buying an additional 200,220 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Workiva by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker’s stock worth $89,511,000 after buying an additional 14,160 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Workiva by 3.0% during the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock worth $90,252,000 after buying an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Workiva by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock worth $89,197,000 after buying an additional 86,207 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Trading Up 0.1%

Workiva stock opened at $66.56 on Friday. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -56.89 and a beta of 0.86. The firm has a 50 day simple moving average of $68.12 and a 200 day simple moving average of $80.27.

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

Wall Street Analysts Forecast Growth

WK has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Stephens restated an “overweight” rating and set a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Stifel Nicolaus decreased their price target on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. BNP Paribas assumed coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price target for the company. Finally, Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and an average price target of $101.30.

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.