King Luther Capital Management Corp Sells 707 Shares of Workiva Inc. (NYSE:WK)

King Luther Capital Management Corp lowered its stake in shares of Workiva Inc. (NYSE:WK) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,501 shares of the software maker’s stock after selling 707 shares during the quarter. King Luther Capital Management Corp owned about 0.12% of Workiva worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after acquiring an additional 181,520 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Workiva by 58.2% in the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock worth $113,642,000 after acquiring an additional 492,945 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Workiva by 4.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock worth $129,452,000 after acquiring an additional 51,506 shares in the last quarter. Brown Capital Management LLC boosted its holdings in Workiva by 22.6% in the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock worth $129,116,000 after acquiring an additional 234,255 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in Workiva by 2.8% in the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock worth $86,745,000 after acquiring an additional 32,230 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Workiva Trading Down 0.1 %

Shares of WK stock opened at $79.16 on Friday. The stock has a 50 day moving average of $75.27 and a 200 day moving average of $77.69. The stock has a market cap of $4.37 billion, a P/E 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 announced its quarterly 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 company 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) EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at $3,721,570.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.86% of the stock is owned by corporate 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.