Axa S.A. Reduces Stock Position in Workiva Inc. (NYSE:WK)

Axa S.A. trimmed its holdings in shares of Workiva Inc. (NYSE:WK) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,832 shares of the software maker’s stock after selling 3,007 shares during the quarter. Axa S.A. owned 0.19% of Workiva worth $7,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WK. Point72 Hong Kong Ltd purchased a new stake in Workiva during the 2nd quarter valued at $62,000. Cubist Systematic Strategies LLC boosted its stake in Workiva by 501.4% during the second quarter. Cubist Systematic Strategies LLC now owns 75,484 shares of the software maker’s stock worth $5,510,000 after buying an additional 62,932 shares during the period. Point72 DIFC Ltd raised its stake in shares of Workiva by 40.3% in the second quarter. Point72 DIFC Ltd now owns 7,780 shares of the software maker’s stock valued at $568,000 after acquiring an additional 2,234 shares during the period. Xponance Inc. boosted its stake in shares of Workiva by 6.0% during the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock worth $233,000 after purchasing an additional 182 shares during the period. Finally, Mount Yale Investment Advisors LLC bought a new position in Workiva during the 2nd quarter valued at about $215,000. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

WK has been the subject of several analyst reports. Citigroup raised their price objective on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. BMO Capital Markets restated an “outperform” rating and set a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Northland Securities reduced their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered their target price on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Workiva Stock Up 2.5 %

WK opened at $80.48 on Friday. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $105.00. The company has a market capitalization of $4.41 billion, a P/E ratio of -46.79 and a beta of 1.05. The stock’s fifty day moving average is $75.74 and its two-hundred day moving average is $77.45.

Workiva (NYSE:WK) last released 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 firm had revenue of $177.50 million for the quarter, compared to analysts’ expectations of $175.22 million. During the same quarter in the previous year, the company posted ($0.36) EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Workiva Inc. will post -0.86 earnings per share for the current year.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at $3,721,570.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.86% of the stock is owned by corporate insiders.

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.