Creative Planning Grows Stock Position in Workiva Inc. (NYSE:WK)

Creative Planning increased its holdings in Workiva Inc. (NYSE:WK) by 73.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,929 shares of the software maker’s stock after buying an additional 5,053 shares during the period. Creative Planning’s holdings in Workiva were worth $944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WK. Champlain Investment Partners LLC lifted its holdings in Workiva by 58.2% in the 1st quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after purchasing an additional 492,945 shares in the last quarter. Swedbank AB purchased a new position in shares of Workiva during the 1st quarter worth about $16,180,000. Vanguard Group Inc. lifted its holdings in shares of Workiva by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after acquiring an additional 181,520 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Workiva by 29.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,789 shares of the software maker’s stock worth $29,662,000 after acquiring an additional 80,551 shares during the period. Finally, Kopp LeRoy C purchased a new position in shares of Workiva during the 1st quarter worth about $6,481,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Northland Securities cut 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. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Workiva Trading Down 0.7 %

Workiva stock opened at $79.17 on Friday. The stock has a market cap of $4.37 billion, a P/E ratio of -47.98 and a beta of 1.05. The stock has a 50 day moving average of $77.87 and a 200-day moving average of $76.91. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $105.00.

Workiva (NYSE:WK) last released its earnings results 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 firm had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS. As a group, equities analysts predict that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

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.