MQS Management LLC Makes New $236,000 Investment in Workiva Inc. (NYSE:WK)

MQS Management LLC purchased a new stake in Workiva Inc. (NYSE:WK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,231 shares of the software maker’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Workiva in the first quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new stake in Workiva during the first quarter worth approximately $45,000. RiverPark Advisors LLC lifted its position in shares of Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after buying an additional 893 shares during the last quarter. Headlands Technologies LLC boosted its stake in 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 in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Workiva by 44,933.3% in the 2nd quarter. Quest Partners LLC now owns 2,702 shares of the software maker’s stock valued at $197,000 after purchasing an additional 2,696 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Down 0.1 %

NYSE:WK opened at $79.16 on Friday. The firm’s fifty day simple moving average is $75.27 and its 200-day simple moving average is $77.69. The stock has a market cap of $4.37 billion, a PE ratio of -46.02 and a beta of 1.05. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $106.75.

Workiva (NYSE:WK) last issued its earnings results 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 business had revenue of $177.50 million for 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 company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts anticipate that Workiva Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.86% of the company’s stock.

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.