Workiva Inc. $WK Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its stake in shares of Workiva Inc. (NYSE:WK) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,594 shares of the software maker’s stock after selling 35,690 shares during the period. Riverbridge Partners LLC owned about 0.71% of Workiva worth $26,668,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC boosted its holdings in shares of Workiva by 110.7% in the second quarter. Squarepoint Ops LLC now owns 1,247,400 shares of the software maker’s stock worth $60,511,000 after buying an additional 655,396 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Workiva by 88.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,109,646 shares of the software maker’s stock valued at $66,168,000 after acquiring an additional 520,839 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in shares of Workiva during the first quarter valued at approximately $65,091,000. First Trust Advisors LP raised its holdings in shares of Workiva by 16.4% during the first quarter. First Trust Advisors LP now owns 862,936 shares of the software maker’s stock valued at $51,457,000 after acquiring an additional 121,643 shares during the period. Finally, Ranger Investment Management L.P. lifted its position in shares of Workiva by 11.5% in the 1st quarter. Ranger Investment Management L.P. now owns 342,185 shares of the software maker’s stock valued at $20,404,000 after acquiring an additional 35,329 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WK shares. Citigroup restated a “buy” rating on shares of Workiva in a research report on Thursday, August 6th. Zacks Research cut shares of Workiva from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Stifel Nicolaus set a $95.00 target price on shares of Workiva in a research note on Thursday, August 27th. UBS Group set a $70.00 target price on shares of Workiva in a research note on Wednesday, August 5th. Finally, Robert W. Baird increased their target price on Workiva from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Insider Buying and Selling

In related news, EVP Brandon Ziegler sold 6,571 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $75.97, for a total transaction of $499,198.87. Following the transaction, the executive vice president directly owned 126,216 shares of the company’s stock, valued at approximately $9,588,629.52. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.77% of the company’s stock.

Workiva Price Performance

NYSE:WK opened at $67.22 on Wednesday. Workiva Inc. has a fifty-two week low of $43.34 and a fifty-two week high of $95.00. The stock’s 50-day moving average is $75.39 and its two-hundred day moving average is $62.94. The stock has a market cap of $3.77 billion, a PE ratio of 60.02 and a beta of 0.46.

Workiva (NYSE:WK) last issued its earnings results on Thursday, November 5th. The software maker reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). The business had revenue of $262.96 million during the quarter, compared to analyst estimates of $261.37 million. Workiva had a net margin of 6.31% and a negative return on equity of 159.20%. Workiva’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Workiva Inc. will post 1.31 earnings per share for the current year.

Workiva Company Profile

Workiva Inc. provides cloud-based software for financial reporting, regulatory compliance, sustainability reporting, and governance, risk, and compliance activities. Its platform helps organizations connect data across business systems, manage reporting workflows, and prepare information for internal and external stakeholders. The company’s offerings support processes such as preparing regulatory filings, financial statements, sustainability disclosures, and audit and risk documentation. Workiva serves organizations across a range of industries and operates internationally.