Workiva Inc. (WK) Position Increased by Renaissance Technologies LLC
Renaissance Technologies LLC increased its position in shares of Workiva Inc. (NYSE:WK) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,600 shares of the software maker’s stock after buying an additional 5,600 shares during the period. Renaissance Technologies LLC owned 0.16% of Workiva worth $1,042,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock worth $4,524,000 after buying an additional 13,881 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Workiva by 27.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,703 shares of the software maker’s stock worth $556,000 after buying an additional 8,810 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Workiva by 88.1% in the fourth quarter. Teachers Advisors LLC now owns 71,214 shares of the software maker’s stock worth $972,000 after buying an additional 33,349 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Workiva by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 82,098 shares of the software maker’s stock worth $1,285,000 after buying an additional 5,102 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Workiva by 9.5% in the first quarter. Swiss National Bank now owns 34,521 shares of the software maker’s stock worth $540,000 after buying an additional 3,000 shares during the last quarter. 41.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Workiva Inc. (NYSE:WK) traded up 0.51% on Friday, reaching $19.75. 64,724 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $19.75 and a 200 day moving average price of $17.40. The firm’s market cap is $826.06 million. Workiva Inc. has a one year low of $12.15 and a one year high of $20.95.
Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm had revenue of $49.40 million for the quarter, compared to the consensus estimate of $48.37 million. During the same quarter last year, the business posted ($0.20) earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Analysts expect that Workiva Inc. will post ($0.63) EPS for the current fiscal year.
A number of research analysts have commented on WK shares. Stifel Nicolaus reiterated a “buy” rating and set a $21.00 price target on shares of Workiva in a research report on Friday, August 4th. SunTrust Banks, Inc. started coverage on shares of Workiva in a research report on Monday, June 26th. They set a “buy” rating and a $22.00 price target on the stock. BidaskClub cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Morgan Stanley reiterated an “equal weight” rating and set a $18.00 price target (up from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Finally, Credit Suisse Group increased their price target on shares of Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $19.13.
In other Workiva news, major shareholder Jerome M. Behar sold 125,000 shares of Workiva stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $20.52, for a total value of $2,565,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jerome M. Behar sold 56,121 shares of Workiva stock in a transaction on Monday, June 5th. The shares were sold at an average price of $18.77, for a total value of $1,053,391.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 430,250 shares of company stock worth $8,435,308. 33.40% of the stock is currently owned by company insiders.
Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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