Workiva Inc. (NYSE:WK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in Workiva Inc. (NYSE:WK) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520,100 shares of the software maker’s stock after selling 90,800 shares during the quarter. Renaissance Technologies LLC owned about 0.95% of Workiva worth $37,962,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Workiva by 7.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after acquiring an additional 132 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Workiva by 2.0% during the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock valued at $498,000 after purchasing an additional 137 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Workiva by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock worth $358,000 after buying an additional 183 shares in the last quarter. Hardy Reed LLC boosted its holdings in Workiva by 6.7% during the first quarter. Hardy Reed LLC now owns 3,425 shares of the software maker’s stock worth $290,000 after buying an additional 215 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Workiva by 7.9% in the second quarter. Parkside Financial Bank & Trust now owns 2,959 shares of the software maker’s stock worth $216,000 after buying an additional 217 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.86% of the stock is owned by company insiders.

Workiva Price Performance

Shares of WK stock opened at $77.28 on Thursday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $109.91. The stock’s 50-day moving average is $74.91 and its two-hundred day moving average is $77.78. The firm has a market cap of $4.27 billion, a P/E ratio of -44.93 and a beta of 1.05.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $177.50 million for the quarter, compared to analysts’ expectations of $175.22 million. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. As a group, research analysts expect that Workiva Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Northland Securities reduced their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Citigroup upped their price target on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 28th. BMO Capital Markets restated an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research report on Tuesday, June 11th. Finally, Robert W. Baird lowered their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Workiva has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.