Algert Global LLC Takes Position in Workiva Inc. (NYSE:WK)

Algert Global LLC bought a new position in Workiva Inc. (NYSE:WK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,870 shares of the software maker’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Workiva during the first quarter valued at $40,000. Fidelis Capital Partners LLC bought a new position in shares of Workiva in the 1st quarter valued at about $45,000. Point72 Hong Kong Ltd purchased a new position in Workiva in the second quarter worth about $62,000. RiverPark Advisors LLC grew its position in Workiva by 361.5% in the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after acquiring an additional 1,577 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WK has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Citigroup raised their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Northland Securities cut their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Workiva Price Performance

Shares of WK stock opened at $76.07 on Wednesday. The company’s 50-day simple moving average is $76.35 and its two-hundred day simple moving average is $77.09. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00. The company has a market capitalization of $4.20 billion, a P/E ratio of -44.23 and a beta of 1.05.

Workiva (NYSE:WK) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts expect that Workiva Inc. will post -0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares in the company, valued at approximately $3,721,570.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.86% of the stock is owned by company insiders.

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.