Contravisory Investment Management Inc. Makes New $228,000 Investment in Workiva Inc. (NYSE:WK)

Contravisory Investment Management Inc. purchased a new position in shares of Workiva Inc. (NYSE:WK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,246 shares of the software maker’s stock, valued at approximately $228,000.

Other institutional investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in shares of Workiva in the fourth quarter valued at $28,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Workiva by 131.5% in the first quarter. Arcadia Investment Management Corp MI now owns 294 shares of the software maker’s stock valued at $30,000 after buying an additional 167 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Workiva in the first quarter valued at $34,000. Belpointe Asset Management LLC lifted its holdings in shares of Workiva by 133.8% in the first quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker’s stock valued at $35,000 after buying an additional 198 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Workiva by 65.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 408 shares of the software maker’s stock valued at $41,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 83.69% of the company’s stock.

Workiva Trading Down 0.7 %

Shares of WK stock opened at $109.23 on Tuesday. The stock has a 50 day moving average of $105.00 and a two-hundred day moving average of $99.11. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2,262.59. Workiva Inc. has a 12 month low of $60.28 and a 12 month high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.18. Workiva had a negative return on equity of 26,521.01% and a negative net margin of 19.02%. The company had revenue of $155.02 million during the quarter, compared to the consensus estimate of $153.40 million. On average, research analysts expect that Workiva Inc. will post -1.74 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WK. The Goldman Sachs Group upped their price objective on Workiva from $108.00 to $121.00 and gave the company a “buy” rating in a report on Friday, August 4th. Northland Securities upped their target price on Workiva from $90.00 to $115.00 in a report on Friday, August 4th. StockNews.com initiated coverage on Workiva in a report on Thursday, August 17th. They set a “hold” rating for the company. Wolfe Research initiated coverage on Workiva in a research report on Monday, August 28th. They set an “outperform” rating and a $120.00 price target on the stock. Finally, Robert W. Baird upped their price target on Workiva from $106.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.75.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.