Susquehanna Fundamental Investments LLC Takes Position in Workiva Inc. (NYSE:WK)

Susquehanna Fundamental Investments LLC bought a new position in shares of Workiva Inc. (NYSE:WK) during the second quarter, HoldingsChannel reports. The firm bought 34,293 shares of the software maker’s stock, valued at approximately $2,503,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in Workiva by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 29,846 shares of the software maker’s stock worth $2,178,000 after buying an additional 1,005 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Workiva during the 2nd quarter worth about $62,000. Cubist Systematic Strategies LLC boosted its position in shares of Workiva by 501.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,484 shares of the software maker’s stock valued at $5,510,000 after acquiring an additional 62,932 shares in the last quarter. Point72 DIFC Ltd increased its stake in 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. Finally, Xponance Inc. raised its position in Workiva by 6.0% in the second quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock worth $233,000 after purchasing an additional 182 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WK has been the topic of a number of recent research reports. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities decreased their price target 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 dropped their price objective on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th. BMO Capital Markets restated an “outperform” rating and issued a $96.00 target price on shares of Workiva in a research note on Tuesday, June 11th. Finally, Citigroup upped 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Insiders Place Their Bets

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

Workiva Stock Performance

Shares of WK opened at $79.12 on Tuesday. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -46.00 and a beta of 1.05. The stock has a fifty day moving average price of $75.87 and a two-hundred day moving average price of $77.37. Workiva Inc. has a 52-week low of $65.47 and a 52-week 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 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. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned ($0.36) earnings per share. As a group, research analysts predict that Workiva Inc. will post -0.86 EPS for the current fiscal 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.