Cubist Systematic Strategies LLC Buys 62,932 Shares of Workiva Inc. (NYSE:WK)

Cubist Systematic Strategies LLC raised its stake in Workiva Inc. (NYSE:WK) by 501.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,484 shares of the software maker’s stock after purchasing an additional 62,932 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Workiva were worth $5,510,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WK. EntryPoint Capital LLC bought a new position in Workiva in the first quarter valued at approximately $40,000. Fidelis Capital Partners LLC bought a new position in shares of Workiva during the 1st quarter worth approximately $45,000. RiverPark Advisors LLC boosted its stake in shares of Workiva by 361.5% during the 1st 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. Headlands Technologies LLC boosted its stake in shares of Workiva by 896.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after acquiring an additional 1,577 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Workiva by 8.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after acquiring an additional 179 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Workiva Price Performance

WK opened at $80.48 on Friday. The business has a fifty day simple moving average of $75.74 and a 200 day simple moving average of $77.50. The company has a market capitalization of $4.41 billion, a PE ratio of -46.79 and a beta of 1.05. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $105.00.

Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.36) EPS. Equities analysts anticipate that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.86% of the company’s stock.

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.