Workiva Inc. (NYSE:WK) EVP Michael D. Hawkins Sells 2,761 Shares

Workiva Inc. (NYSE:WK) 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 value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The sale was disclosed in a document filed with the SEC, which is available at this link.

Workiva Price Performance

Workiva stock opened at $75.73 on Tuesday. The business has a fifty day moving average price of $74.70 and a 200-day moving average price of $77.91. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $111.17. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -44.03 and a beta of 1.05.

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

Analysts Set New Price Targets

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

Institutional Trading of Workiva

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Workiva by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,458 shares of the software maker’s stock valued at $656,000 after buying an additional 1,257 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Workiva by 9.5% during the 4th quarter. Teacher Retirement System of Texas now owns 5,570 shares of the software maker’s stock valued at $566,000 after buying an additional 483 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Workiva by 12.2% during the 4th quarter. Principal Financial Group Inc. now owns 5,735 shares of the software maker’s stock valued at $582,000 after buying an additional 624 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 valued at $168,000 after buying an additional 132 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Workiva during the 4th quarter valued at about $57,025,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.