AtonRa Partners Sells 401 Shares of Workiva Inc. (NYSE:WK)

AtonRa Partners reduced its stake in Workiva Inc. (NYSE:WK) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,618 shares of the software maker’s stock after selling 401 shares during the period. AtonRa Partners’ holdings in Workiva were worth $266,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Semanteon Capital Management LP bought a new stake in Workiva during the 4th quarter worth approximately $996,000. Parkside Financial Bank & Trust increased its holdings in shares of Workiva by 6.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the software maker’s stock worth $245,000 after purchasing an additional 146 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Workiva by 11.4% in the fourth quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker’s stock worth $44,946,000 after purchasing an additional 45,334 shares during the period. Handelsbanken Fonder AB raised its position in shares of Workiva by 15.9% in the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the software maker’s stock worth $812,000 after buying an additional 1,100 shares in the last quarter. Finally, abrdn plc boosted its stake in Workiva by 1.0% during the fourth quarter. abrdn plc now owns 404,788 shares of the software maker’s stock valued at $41,098,000 after buying an additional 4,087 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WK has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their target price on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus cut their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Finally, Citigroup lowered their price target on Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Workiva currently has an average rating of “Moderate Buy” and an average target price of $111.63.

Workiva Trading Down 0.4 %

Shares of WK stock traded down $0.36 during trading hours on Tuesday, reaching $80.77. The company’s stock had a trading volume of 44,517 shares, compared to its average volume of 371,364. Workiva Inc. has a one year low of $76.63 and a one year high of $116.00. The stock has a market capitalization of $4.42 billion, a P/E ratio of -34.04 and a beta of 1.03. The firm’s fifty day simple moving average is $82.91 and its 200 day simple moving average is $91.05.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities research analysts forecast that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the sale, the executive vice president now owns 62,453 shares in the company, valued at $5,846,849.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.71% 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.