Workiva Inc. (NYSE:WK) Holdings Lowered by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in Workiva Inc. (NYSE:WK) by 23.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,745 shares of the software maker’s stock after selling 47,697 shares during the quarter. Wellington Management Group LLP owned approximately 0.29% of Workiva worth $15,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of Workiva by 116.6% in the third quarter. Hsbc Holdings PLC now owns 12,233 shares of the software maker’s stock valued at $1,246,000 after purchasing an additional 6,585 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Workiva during the 3rd quarter worth about $1,018,000. Stifel Financial Corp grew its stake in Workiva by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 49,570 shares of the software maker’s stock valued at $5,023,000 after acquiring an additional 935 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Workiva by 0.4% in the 3rd quarter. Northern Trust Corp now owns 594,345 shares of the software maker’s stock valued at $60,231,000 after purchasing an additional 2,110 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Workiva by 26.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 2,828 shares of the software maker’s stock worth $287,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 3,435 shares of Workiva stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total value of $279,815.10. Following the transaction, the executive vice president now owns 55,487 shares in the company, valued at approximately $4,519,971.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WK shares. StockNews.com upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Citigroup cut their price objective on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. William Blair reissued an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $96.00 target price on shares of Workiva in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $109.43.

Workiva Price Performance

NYSE WK opened at $73.35 on Thursday. Workiva Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $116.00. The stock’s 50-day moving average is $78.34 and its two-hundred day moving average is $86.34. The firm has a market cap of $4.02 billion, a P/E ratio of -42.65 and a beta of 1.07.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). The company had revenue of $175.67 million during the quarter, compared to the consensus estimate of $173.85 million. On average, equities analysts expect that Workiva Inc. will post -0.62 EPS for the current year.

Workiva 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.