Michael D. Hawkins Sells 2,761 Shares of Workiva Inc. (NYSE:WK) Stock

Workiva Inc. (NYSE:WK) EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. The transaction was disclosed in a filing with the SEC, which is available at this link.

Workiva Trading Up 1.5 %

NYSE WK opened at $76.85 on Wednesday. The company has a 50-day moving average price of $74.79 and a two-hundred day moving average price of $77.84. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $111.17. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -44.68 and a beta of 1.05.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $177.50 million during the quarter, compared to analyst estimates of $175.22 million. Workiva’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned ($0.36) earnings per share. As a group, equities research analysts expect that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WK has been the topic of a number of research reports. Citigroup increased their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Robert W. Baird cut their target price 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. Northland Securities lowered their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $96.00 price target on shares of Workiva in a report on Tuesday, June 11th. Finally, StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WK. Norges Bank acquired a new stake in Workiva in the fourth quarter worth about $57,025,000. Champlain Investment Partners LLC boosted its holdings in shares of Workiva by 58.2% in the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after acquiring an additional 492,945 shares in the last quarter. Brown Capital Management LLC increased its stake in shares of Workiva by 22.6% during the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after acquiring an additional 234,255 shares during the period. Conestoga Capital Advisors LLC raised its holdings in Workiva by 21.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock worth $98,047,000 after purchasing an additional 203,485 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Workiva in the first quarter worth approximately $16,180,000. 92.21% of the stock is owned by institutional investors and hedge funds.

About Workiva

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.