Workiva Inc. (NYSE:WK) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its stake in shares of Workiva Inc. (NYSE:WK) by 30.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,170 shares of the software maker’s stock after selling 18,363 shares during the period. Trexquant Investment LP owned about 0.08% of Workiva worth $4,282,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. UBS Group AG raised its position in shares of Workiva by 12.8% in the fourth quarter. UBS Group AG now owns 341,252 shares of the software maker’s stock valued at $34,647,000 after buying an additional 38,613 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Workiva by 42.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,992 shares of the software maker’s stock worth $2,030,000 after purchasing an additional 5,922 shares during the last quarter. Norges Bank acquired a new stake in shares of Workiva in the 4th quarter worth $57,025,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Workiva by 7.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after acquiring an additional 132 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Workiva by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 5,735 shares of the software maker’s stock worth $582,000 after acquiring an additional 624 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Workiva

In other news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total value of $279,815.10. Following the sale, the executive vice president now directly owns 55,487 shares in the company, valued at $4,519,971.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Workiva in a research note on Friday, May 3rd. BMO Capital Markets decreased their target price on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Citigroup cut their target price on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus cut their target price on Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.86.

Workiva Stock Performance

Workiva stock opened at $81.79 on Thursday. The firm has a 50 day moving average price of $81.78 and a 200 day moving average price of $89.62. Workiva Inc. has a fifty-two week low of $76.63 and a fifty-two week high of $116.00. The company has a market capitalization of $4.48 billion, a PE ratio of -47.55 and a beta of 1.04.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. As a group, equities research analysts forecast that Workiva Inc. will post -0.62 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.