AtonRa Partners Sells 401 Shares of Workiva Inc. (NYSE:WK)

AtonRa Partners trimmed its position in Workiva Inc. (NYSE:WK) by 13.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,618 shares of the software maker’s stock after selling 401 shares during the quarter. AtonRa Partners’ holdings in Workiva were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Semanteon Capital Management LP purchased a new stake in Workiva in the fourth quarter worth about $996,000. Parkside Financial Bank & Trust lifted its position in shares of Workiva by 6.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the software maker’s stock worth $245,000 after purchasing an additional 146 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Workiva by 11.4% during the fourth quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker’s stock valued at $44,946,000 after purchasing an additional 45,334 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Workiva by 15.9% during the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the software maker’s stock valued at $812,000 after purchasing an additional 1,100 shares in the last quarter. Finally, abrdn plc increased its holdings in Workiva by 1.0% during the fourth quarter. abrdn plc now owns 404,788 shares of the software maker’s stock valued at $41,098,000 after buying an additional 4,087 shares during the period. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WK shares. BMO Capital Markets decreased their price objective on Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus decreased their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Finally, Citigroup reduced their price target on Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Workiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.63.

Workiva Stock Performance

Shares of NYSE WK traded down $0.36 during mid-day trading on Tuesday, hitting $80.77. The stock had a trading volume of 44,517 shares, compared to its average volume of 371,364. The firm has a market cap of $4.42 billion, a PE ratio of -34.04 and a beta of 1.03. The company has a 50 day moving average of $82.91 and a two-hundred day moving average of $91.05. Workiva Inc. has a twelve month low of $76.63 and a twelve month high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. Equities research analysts predict that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling at Workiva

In related news, EVP Michael D. Hawkins sold 11,439 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the transaction, the executive vice president now directly owns 62,453 shares in the company, valued at $5,846,849.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.71% of the company’s stock.

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.