Cetera Investment Advisers Purchases 445 Shares of Workiva Inc. (NYSE:WK)

Cetera Investment Advisers boosted its stake in shares of Workiva Inc. (NYSE:WK) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,660 shares of the software maker’s stock after acquiring an additional 445 shares during the quarter. Cetera Investment Advisers’ holdings in Workiva were worth $1,435,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WK. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Workiva by 29.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,789 shares of the software maker’s stock valued at $29,662,000 after acquiring an additional 80,551 shares during the period. Comerica Bank raised its stake in Workiva by 23.8% in the first quarter. Comerica Bank now owns 87,999 shares of the software maker’s stock valued at $7,462,000 after purchasing an additional 16,943 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Workiva by 15.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 76,702 shares of the software maker’s stock worth $6,502,000 after acquiring an additional 10,380 shares in the last quarter. Burney Co. acquired a new position in Workiva during the first quarter worth about $3,678,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Workiva by 316.5% during the second quarter. Hsbc Holdings PLC now owns 14,304 shares of the software maker’s stock worth $1,045,000 after purchasing an additional 10,870 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Workiva Trading Up 1.8 %

WK opened at $81.33 on Wednesday. The company has a market cap of $4.46 billion, a P/E ratio of -47.28 and a beta of 1.05. The business’s 50-day moving average price is $77.07 and its 200-day moving average price is $76.94. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $105.00.

Workiva (NYSE:WK) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $177.50 million during the quarter, compared to analysts’ expectations of $175.22 million. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.36) EPS. Equities research analysts forecast that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. 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 report on Thursday, June 27th. Northland Securities cut 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. Citigroup increased 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. Finally, StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.