Hsbc Holdings PLC Grows Stock Holdings in Workiva Inc. (NYSE:WK)

Hsbc Holdings PLC lifted its position in Workiva Inc. (NYSE:WK) by 316.5% during the second quarter, Holdings Channel reports. The institutional investor owned 14,304 shares of the software maker’s stock after buying an additional 10,870 shares during the quarter. Hsbc Holdings PLC’s holdings in Workiva were worth $1,045,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in Workiva by 23.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,378 shares of the software maker’s stock valued at $320,000 after acquiring an additional 830 shares in the last quarter. Wealth Alliance acquired a new stake in shares of Workiva in the 2nd quarter worth $202,000. Dimensional Fund Advisors LP grew its stake in Workiva by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 17,868 shares of the software maker’s stock worth $1,304,000 after buying an additional 259 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Workiva by 3.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 82,680 shares of the software maker’s stock worth $6,035,000 after buying an additional 3,043 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in Workiva by 8.3% during the 2nd quarter. William Blair Investment Management LLC now owns 377,832 shares of the software maker’s stock valued at $27,578,000 after buying an additional 29,005 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WK. 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. Northland Securities lowered their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Citigroup raised 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. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $96.00 price target on shares of Workiva in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.00.

Workiva Price Performance

NYSE:WK opened at $80.48 on Friday. The company’s fifty day moving average price is $75.74 and its 200-day moving average price is $77.45. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $105.00. The firm has a market capitalization of $4.41 billion, a P/E ratio of -46.79 and a beta of 1.05.

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

Insider Activity at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction dated 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 owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.86% of the stock is owned by company insiders.

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.