LMR Partners LLP Acquires Shares of 147,500 Workiva Inc. (NYSE:WK)

LMR Partners LLP purchased a new stake in shares of Workiva Inc. (NYSE:WKFree Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 147,500 shares of the software maker’s stock, valued at approximately $16,151,000. LMR Partners LLP owned about 0.27% of Workiva at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Twin Tree Management LP bought a new position in Workiva during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. bought a new position in shares of Workiva in the 4th quarter worth about $66,000. GeoWealth Management LLC increased its holdings in Workiva by 3,010.0% in the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after purchasing an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at $5,236,688.14. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 3.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BNP Paribas assumed coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Stephens began coverage on shares of Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 target price for the company. Finally, Truist Financial dropped their price target on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.90.

View Our Latest Stock Analysis on Workiva

Workiva Stock Down 1.4%

Shares of WK stock opened at $67.80 on Monday. The firm has a market cap of $3.81 billion, a P/E ratio of -73.70 and a beta of 0.98. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The business has a 50-day moving average price of $75.41 and a two-hundred day moving average price of $90.32.

Workiva (NYSE:WKGet Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million for the quarter, compared to the consensus estimate of $204.24 million. During the same period in the previous year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts expect that Workiva Inc. will post -0.92 EPS for the current fiscal year.

About Workiva

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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