FORA Capital LLC Increases Stock Holdings in Workiva Inc. (NYSE:WK)

FORA Capital LLC lifted its stake in Workiva Inc. (NYSE:WK) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,478 shares of the software maker’s stock after purchasing an additional 801 shares during the quarter. FORA Capital LLC’s holdings in Workiva were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Comerica Bank purchased a new position in Workiva during the 3rd quarter valued at $7,212,000. Deutsche Bank AG boosted its holdings in Workiva by 0.3% during the 3rd quarter. Deutsche Bank AG now owns 379,023 shares of the software maker’s stock valued at $38,410,000 after acquiring an additional 997 shares during the period. Hudson Bay Capital Management LP purchased a new position in Workiva during the 3rd quarter valued at $2,503,000. Vanguard Group Inc. lifted its holdings in shares of Workiva by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,953,125 shares of the software maker’s stock worth $501,950,000 after buying an additional 63,464 shares during the period. Finally, Diversified Trust Co lifted its holdings in shares of Workiva by 4.4% in the 4th quarter. Diversified Trust Co now owns 5,762 shares of the software maker’s stock worth $585,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets reissued an “outperform” rating and issued a $96.00 price target on shares of Workiva in a research report on Tuesday, June 11th. Citigroup upped their target price on Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com raised Workiva from a “hold” rating to a “buy” rating in a research report on Tuesday. 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 research report on Thursday, June 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.14.

Insider Buying and Selling

In other news, EVP Michael D. Hawkins sold 3,435 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the transaction, the executive vice president now directly owns 55,487 shares in the company, valued at $4,519,971.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.86% of the stock is currently owned by company insiders.

Workiva Price Performance

Shares of NYSE:WK traded down $0.05 during midday trading on Tuesday, hitting $71.29. The company had a trading volume of 98,851 shares, compared to its average volume of 364,039. Workiva Inc. has a twelve month low of $69.46 and a twelve month high of $116.00. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -41.44 and a beta of 1.07. The business’s 50-day simple moving average is $77.17 and its 200-day simple moving average is $84.72.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). The company had revenue of $175.67 million during the quarter, compared to analyst estimates of $173.85 million. As a group, sell-side analysts forecast that Workiva Inc. will post -0.62 EPS for the current year.

Workiva Company Profile

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.