Foster Group Inc. Reduces Stock Position in Workiva Inc. (NYSE:WK)

Foster Group Inc. lowered its holdings in shares of Workiva Inc. (NYSE:WK) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,073 shares of the software maker’s stock after selling 295 shares during the quarter. Foster Group Inc.’s holdings in Workiva were worth $345,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WK. SG Americas Securities LLC bought a new position in shares of Workiva during the 4th quarter worth $107,000. Vinva Investment Management Ltd bought a new position in shares of Workiva during the 3rd quarter worth $162,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of 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. bought a new position in shares of Workiva during the 4th quarter worth $213,000. Finally, SRS Capital Advisors Inc. grew its position in shares of Workiva by 261.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,117 shares of the software maker’s stock worth $215,000 after buying an additional 1,531 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Trading Up 0.8 %

Workiva stock opened at $70.76 on Friday. The stock has a 50-day moving average of $78.73 and a two-hundred day moving average of $87.12. Workiva Inc. has a one year low of $69.46 and a one year high of $116.00.

Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million during the quarter, compared to analysts’ expectations 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Citigroup decreased their price objective on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. StockNews.com upgraded Workiva from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.43.

Insider Activity

In other news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total value of $279,815.10. Following the transaction, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at $4,519,971.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.86% of the company’s stock.

About Workiva

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.