Envestnet Asset Management Inc. Sells 16,136 Shares of Workiva Inc. (NYSE:WK)

Envestnet Asset Management Inc. lowered its position in shares of Workiva Inc. (NYSE:WK) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,218 shares of the software maker’s stock after selling 16,136 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Workiva were worth $16,001,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Workiva during the first quarter valued at $40,000. Fidelis Capital Partners LLC bought a new stake in Workiva during the first quarter valued at $45,000. RiverPark Advisors LLC boosted its position in Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after acquiring an additional 893 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after purchasing an additional 1,577 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new position in shares of Workiva during the first quarter valued at about $226,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the 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 sale, the executive vice president now owns 49,887 shares in the company, valued at approximately $3,721,570.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WK. StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. 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. Northland Securities dropped their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Finally, Citigroup upped their price objective on shares of Workiva from $103.00 to $105.00 and gave the company 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Workiva Price Performance

WK opened at $77.95 on Wednesday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $105.00. The firm has a market capitalization of $4.27 billion, a PE ratio of -45.32 and a beta of 1.05. The company’s 50-day moving average is $75.39 and its 200 day moving average is $77.52.

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

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.