American Trust Acquires Shares of 2,674 Workiva Inc. (NYSE:WK)

American Trust acquired a new stake in Workiva Inc. (NYSE:WK – Get Rating) during the third quarter, Holdings Channel reports. The fund acquired 2,674 shares of the software maker’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WK. Raymond James & Associates raised its holdings in shares of Workiva by 4.8% during the 1st quarter. Raymond James & Associates now owns 36,473 shares of the software maker’s stock worth $4,304,000 after acquiring an additional 1,667 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Workiva by 54.8% during the 1st quarter. MetLife Investment Management LLC now owns 22,917 shares of the software maker’s stock worth $2,704,000 after acquiring an additional 8,109 shares during the period. Rhumbline Advisers raised its holdings in shares of Workiva by 3.2% during the 1st quarter. Rhumbline Advisers now owns 44,602 shares of the software maker’s stock worth $5,263,000 after acquiring an additional 1,366 shares during the period. Sei Investments Co. raised its holdings in shares of Workiva by 34.7% during the 1st quarter. Sei Investments Co. now owns 125,714 shares of the software maker’s stock worth $14,834,000 after acquiring an additional 32,360 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Workiva by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 4,316,544 shares of the software maker’s stock worth $509,353,000 after acquiring an additional 149,693 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WK. Truist Financial raised their price objective on Workiva from $80.00 to $100.00 in a research report on Wednesday, February 22nd. Citigroup raised their price objective on Workiva from $101.00 to $108.00 in a research report on Wednesday, February 22nd. Robert W. Baird raised their price objective on Workiva from $96.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. BMO Capital Markets raised their price objective on Workiva from $88.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Finally, StockNews.com assumed coverage on Workiva in a research report on Thursday. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.50.

Insider Transactions at Workiva

In other news, CAO Brandon Ziegler sold 10,818 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $87.67, for a total transaction of $948,414.06. Following the completion of the transaction, the chief accounting officer now directly owns 97,364 shares of the company’s stock, valued at $8,535,901.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Brandon Ziegler sold 10,818 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $87.67, for a total transaction of $948,414.06. Following the completion of the sale, the chief accounting officer now owns 97,364 shares in the company, valued at $8,535,901.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jill Klindt sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $90.20, for a total value of $1,353,000.00. Following the sale, the chief financial officer now owns 84,399 shares of the company’s stock, valued at approximately $7,612,789.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,249 shares of company stock valued at $4,924,271. 5.70% of the stock is currently owned by corporate insiders.

Workiva Stock Performance

NYSE WK opened at $95.32 on Friday. The company has a market cap of $5.06 billion, a P/E ratio of -55.42 and a beta of 1.15. The company has a debt-to-equity ratio of 59.31, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a 50-day moving average of $89.71 and a two-hundred day moving average of $80.39. Workiva Inc. has a 1-year low of $59.43 and a 1-year high of $124.76.

Workiva (NYSE:WK – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The software maker reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.20. Workiva had a negative return on equity of 1,024.28% and a negative net margin of 16.91%. The business had revenue of $143.80 million during the quarter, compared to the consensus estimate of $139.22 million. As a group, analysts anticipate that Workiva Inc. will post -1.73 EPS for the current year.

About Workiva

(Get Rating)

Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process, and people. Its platform includes Wdesk, which offers controlled collaboration, data linking, data integrations, granular permissions, process management, and a full audit trail.