Principal Financial Group Inc. Has $498,000 Stock Holdings in Workiva Inc. (NYSE:WK)

Principal Financial Group Inc. grew its position in Workiva Inc. (NYSE:WK) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,823 shares of the software maker’s stock after purchasing an additional 137 shares during the period. Principal Financial Group Inc.’s holdings in Workiva were worth $498,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WK. EntryPoint Capital LLC acquired a new stake in Workiva in the first quarter worth $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Workiva during the first quarter worth $45,000. RiverPark Advisors LLC raised its holdings in shares of Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Workiva by 7.9% during the fourth 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 period. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of Workiva during the first quarter worth $226,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WK. Robert W. Baird dropped their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, June 27th. StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities lowered their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $96.00 price target on shares of Workiva in a research note on Tuesday, June 11th. Finally, Citigroup lifted their price target on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Workiva Price Performance

Shares of WK opened at $74.73 on Friday. The firm has a 50-day moving average of $74.70 and a 200-day moving average of $78.01. Workiva Inc. has a one year low of $65.47 and a one year high of $116.00. The company has a market cap of $4.13 billion, a PE ratio of -43.45 and a beta of 1.05.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $177.50 million for the quarter, compared to the consensus estimate of $175.22 million. Workiva’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) earnings per share. Analysts expect that Workiva Inc. will post -0.86 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.