Algert Global LLC purchased a new stake in Workiva Inc (NYSE:WK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 45,272 shares of the software maker’s stock, valued at approximately $1,788,000. Algert Global LLC owned about 0.10% of Workiva at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Workiva during the 2nd quarter worth about $127,000. Kessler Investment Group LLC acquired a new stake in Workiva during the 3rd quarter worth about $213,000. Ibex Investors LLC acquired a new stake in Workiva during the 3rd quarter worth about $222,000. First Hawaiian Bank acquired a new stake in Workiva during the 3rd quarter worth about $260,000. Finally, Ingalls & Snyder LLC acquired a new stake in Workiva during the 3rd quarter worth about $294,000. 46.05% of the stock is owned by institutional investors.
WK has been the topic of several recent analyst reports. SunTrust Banks boosted their price objective on Workiva to $39.00 and gave the stock a “positive” rating in a report on Wednesday, August 29th. They noted that the move was a valuation call. Morgan Stanley dropped their target price on Workiva from $28.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, October 23rd. Northland Securities upped their target price on Workiva from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Stifel Nicolaus upped their target price on Workiva from $35.00 to $42.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Zacks Investment Research downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Workiva has an average rating of “Buy” and an average target price of $39.17.
In related news, Director Eugene S. Katz sold 29,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $36.13, for a total value of $1,076,674.00. Following the completion of the sale, the director now owns 30,995 shares of the company’s stock, valued at approximately $1,119,849.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jeff D. Trom sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $33.84, for a total value of $676,800.00. The disclosure for this sale can be found here. Insiders sold a total of 88,500 shares of company stock worth $3,144,165 in the last quarter. 29.94% of the stock is owned by corporate insiders.
Shares of WK opened at $34.26 on Friday. The stock has a market capitalization of $1.54 billion, a PE ratio of -32.02 and a beta of 1.06. Workiva Inc has a fifty-two week low of $20.50 and a fifty-two week high of $40.84.
Workiva (NYSE:WK) last issued its earnings results on Wednesday, November 7th. The software maker reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.11. The business had revenue of $60.87 million during the quarter, compared to analyst estimates of $59.84 million. Workiva’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. Sell-side analysts forecast that Workiva Inc will post -1.03 earnings per share for the current fiscal year.
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Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.
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