Workiva Inc. (NYSE:WK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its position in Workiva Inc. (NYSE:WK) by 76.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,866 shares of the software maker’s stock after selling 12,893 shares during the period. SG Americas Securities LLC’s holdings in Workiva were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WK. American International Group Inc. raised its holdings in Workiva by 1.2% during the fourth quarter. American International Group Inc. now owns 24,727 shares of the software maker’s stock worth $2,511,000 after purchasing an additional 304 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Workiva by 8.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 226,488 shares of the software maker’s stock valued at $22,995,000 after acquiring an additional 16,912 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Workiva by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,004,409 shares of the software maker’s stock worth $508,098,000 after acquiring an additional 51,284 shares during the last quarter. Diversified Trust Co raised its stake in shares of Workiva by 98.0% during the first quarter. Diversified Trust Co now owns 11,410 shares of the software maker’s stock valued at $968,000 after purchasing an additional 5,648 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Workiva by 16.6% during the first quarter. Principal Financial Group Inc. now owns 6,686 shares of the software maker’s stock valued at $567,000 after acquiring an additional 951 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WK shares. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird decreased their price target on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday, June 27th. Citigroup increased their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Workiva Stock Performance

Shares of WK opened at $81.52 on Friday. The business’s 50 day moving average price is $77.53 and its two-hundred day moving average price is $77.00. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $105.00. The firm has a market cap of $4.47 billion, a PE ratio of -47.40 and a beta of 1.05.

Workiva (NYSE:WK) last announced 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 business had revenue of $177.50 million for the quarter, compared to analyst estimates of $175.22 million. During the same quarter last year, the company posted ($0.36) earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts predict that Workiva Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.86% of the company’s stock.

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.