Swedbank AB Sells 90,800 Shares of Workiva Inc. (NYSE:WK)

Swedbank AB trimmed its position in Workiva Inc. (NYSE:WK) by 47.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 100,000 shares of the software maker’s stock after selling 90,800 shares during the period. Swedbank AB’s holdings in Workiva were worth $7,912,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning boosted its holdings in Workiva by 73.5% in the third quarter. Creative Planning now owns 11,929 shares of the software maker’s stock valued at $944,000 after acquiring an additional 5,053 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Workiva by 33.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 15,000 shares of the software maker’s stock valued at $1,187,000 after purchasing an additional 3,800 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Workiva by 2.3% in the 2nd quarter. Cetera Investment Advisers now owns 19,660 shares of the software maker’s stock valued at $1,435,000 after purchasing an additional 445 shares during the last quarter. Quarry LP grew its position in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Workiva by 484.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,478 shares of the software maker’s stock worth $181,000 after buying an additional 2,054 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Down 0.3 %

Shares of WK stock opened at $81.85 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -47.59 and a beta of 1.05. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00. The firm has a fifty day moving average of $77.39 and a 200-day moving average of $77.01.

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 business had revenue of $177.50 million during the quarter, compared to analysts’ expectations of $175.22 million. Workiva’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.36) earnings per share. On average, equities analysts expect that Workiva Inc. will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WK shares. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Northland Securities cut 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. Citigroup increased their price target on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Robert W. Baird decreased their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.00.

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.