Workiva Inc. (NYSE:WK) Shares Bought by Summit Global Investments

Summit Global Investments lifted its position in shares of Workiva Inc. (NYSE:WK) by 21.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,903 shares of the software maker’s stock after acquiring an additional 503 shares during the quarter. Summit Global Investments’ holdings in Workiva were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WK. Natixis Advisors L.P. raised its position in Workiva by 6.1% in the fourth quarter. Natixis Advisors L.P. now owns 183,706 shares of the software maker’s stock worth $18,651,000 after acquiring an additional 10,481 shares in the last quarter. Victory Capital Management Inc. grew its position in Workiva by 24.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,458 shares of the software maker’s stock worth $656,000 after buying an additional 1,257 shares during the period. Semanteon Capital Management LP purchased a new position in Workiva in the fourth quarter valued at about $996,000. Parkside Financial Bank & Trust boosted its stake in shares of Workiva by 6.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the software maker’s stock worth $245,000 after acquiring an additional 146 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Workiva by 11.4% in the 4th quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker’s stock worth $44,946,000 after acquiring an additional 45,334 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Stock Performance

Shares of NYSE WK opened at $81.87 on Tuesday. The firm has a market cap of $4.48 billion, a P/E ratio of -47.60 and a beta of 1.04. Workiva Inc. has a 1 year low of $76.63 and a 1 year high of $116.00. The firm’s 50 day moving average price is $82.27 and its 200 day moving average price is $90.39.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities analysts predict that Workiva Inc. will post -0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

WK has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their target price on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. Citigroup cut their target price on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. William Blair restated an “outperform” rating on shares of Workiva in a research report on Friday. Finally, BMO Capital Markets lowered their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.86.

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.