AQR Capital Management LLC Decreases Holdings in Workiva Inc. (NYSE:WK)

AQR Capital Management LLC decreased its holdings in Workiva Inc. (NYSE:WK) by 8.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,967 shares of the software maker’s stock after selling 3,223 shares during the period. AQR Capital Management LLC owned approximately 0.06% of Workiva worth $2,479,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new stake in shares of Workiva during the first quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new stake in Workiva during the 1st quarter valued at $45,000. Point72 Hong Kong Ltd bought a new stake in Workiva in the 2nd quarter worth $62,000. RiverPark Advisors LLC increased its position in shares of Workiva by 361.5% in the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after acquiring an additional 893 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Workiva by 896.0% in the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after acquiring an additional 1,577 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com cut Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird reduced 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. Citigroup upped their target price on Workiva from $103.00 to $105.00 and gave the company 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 restated an “outperform” rating and issued a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Workiva Trading Down 1.5 %

WK opened at $76.07 on Wednesday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -44.23 and a beta of 1.05. The stock has a fifty day simple moving average of $76.35 and a two-hundred day simple moving average of $77.09. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00.

Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $177.50 million for the quarter, compared to the consensus estimate of $175.22 million. Workiva’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.36) earnings per share. On average, analysts predict that Workiva Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling

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

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.