Wealth Alliance Makes New Investment in Workiva Inc. (NYSE:WK)

Wealth Alliance purchased a new position in shares of Workiva Inc. (NYSE:WK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,763 shares of the software maker’s stock, valued at approximately $202,000.

Several other institutional investors have also modified their holdings of WK. Norges Bank acquired a new position in Workiva in the 4th quarter worth $57,025,000. Champlain Investment Partners LLC boosted its position in shares of Workiva by 58.2% during the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock worth $113,642,000 after buying an additional 492,945 shares during the period. Brown Capital Management LLC grew its holdings in shares of Workiva by 22.6% during the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock worth $129,116,000 after buying an additional 234,255 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Workiva by 21.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock valued at $98,047,000 after acquiring an additional 203,485 shares in the last quarter. Finally, Swedbank AB acquired a new position in Workiva during the 1st quarter worth approximately $16,180,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Down 0.1 %

Shares of NYSE WK opened at $79.16 on Friday. The business’s 50 day moving average price is $75.27 and its two-hundred day moving average price is $77.74. The company has a market cap of $4.37 billion, a PE ratio of -46.02 and a beta of 1.05. Workiva Inc. has a twelve month low of $65.47 and a twelve month high of $106.75.

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

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’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 transaction, the executive vice president now 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 can be accessed through this link. 3.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WK. Robert W. Baird cut their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research report on Thursday, June 27th. 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. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Citigroup increased their price target on Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Northland Securities lowered their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.00.

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.