Workiva Inc. $WK Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its position in shares of Workiva Inc. (NYSE:WK) by 8.2% in the third quarter, Holdings Channel reports. The firm owned 400,594 shares of the software maker’s stock after selling 35,690 shares during the period. Riverbridge Partners LLC’s holdings in Workiva were worth $26,668,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC grew its stake in shares of Workiva by 110.7% in the 2nd quarter. Squarepoint Ops LLC now owns 1,247,400 shares of the software maker’s stock valued at $60,511,000 after buying an additional 655,396 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Workiva by 88.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,109,646 shares of the software maker’s stock worth $66,168,000 after buying an additional 520,839 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new position in Workiva in the first quarter worth approximately $65,091,000. First Trust Advisors LP raised its position in Workiva by 16.4% during the first quarter. First Trust Advisors LP now owns 862,936 shares of the software maker’s stock valued at $51,457,000 after acquiring an additional 121,643 shares in the last quarter. Finally, Ranger Investment Management L.P. raised its position in Workiva by 11.5% during the first quarter. Ranger Investment Management L.P. now owns 342,185 shares of the software maker’s stock valued at $20,404,000 after acquiring an additional 35,329 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Workiva news, EVP Brandon Ziegler sold 6,571 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $75.97, for a total transaction of $499,198.87. Following the completion of the sale, the executive vice president owned 126,216 shares of the company’s stock, valued at $9,588,629.52. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WK shares. Robert W. Baird lifted their target price on shares of Workiva from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Stifel Nicolaus set a $95.00 price target on shares of Workiva in a research note on Thursday, August 27th. Zacks Research lowered shares of Workiva from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. UBS Group set a $70.00 price target on shares of Workiva in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Workiva from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.00.

Workiva Price Performance

Shares of NYSE:WK opened at $67.22 on Wednesday. Workiva Inc. has a fifty-two week low of $43.34 and a fifty-two week high of $95.00. The business has a 50-day moving average of $75.39 and a two-hundred day moving average of $62.94. The stock has a market capitalization of $3.77 billion, a P/E ratio of 60.02 and a beta of 0.46.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, November 5th. The software maker reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). The company had revenue of $262.96 million for the quarter, compared to analyst estimates of $261.37 million. Workiva had a net margin of 6.31% and a negative return on equity of 159.20%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. As a group, research analysts expect that Workiva Inc. will post 1.31 EPS for the current fiscal year.

Workiva Company Profile

Workiva Inc. provides cloud-based software for financial reporting, regulatory compliance, sustainability reporting, and governance, risk, and compliance activities. Its platform helps organizations connect data across business systems, manage reporting workflows, and prepare information for internal and external stakeholders. The company’s offerings support processes such as preparing regulatory filings, financial statements, sustainability disclosures, and audit and risk documentation. Workiva serves organizations across a range of industries and operates internationally.