Virtu Financial LLC Makes New Investment in Workiva Inc. (NYSE:WK)

Virtu Financial LLC acquired a new stake in Workiva Inc. (NYSE:WK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,454 shares of the software maker’s stock, valued at approximately $757,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Workiva in the 4th quarter valued at about $107,000. Vinva Investment Management Ltd purchased a new stake in Workiva during the 3rd quarter worth approximately $162,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Workiva by 7.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after buying an additional 132 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Workiva in the 4th quarter valued at approximately $213,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Workiva by 261.3% in the third quarter. SRS Capital Advisors Inc. now owns 2,117 shares of the software maker’s stock worth $215,000 after acquiring an additional 1,531 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

NYSE WK opened at $74.47 on Monday. Workiva Inc. has a 12 month low of $73.32 and a 12 month high of $116.00. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -43.30 and a beta of 1.07. The firm’s fifty day moving average price is $79.58 and its 200 day moving average price is $87.73.

Workiva (NYSE:WK) last posted its earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $175.67 million for the quarter, compared to analyst estimates of $173.85 million. As a group, sell-side analysts forecast that Workiva Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 3,435 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the transaction, the executive vice president now directly owns 55,487 shares in the company, valued at $4,519,971.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.86% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Workiva in a report on Friday, May 3rd. Stifel Nicolaus lowered their price objective on Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. StockNews.com raised shares of Workiva from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. BMO Capital Markets reiterated an “outperform” rating and set a $96.00 price target on shares of Workiva in a report on Tuesday, June 11th. Finally, Citigroup reduced their price objective on shares of Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.43.

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.