Vanguard Group Inc. Grows Holdings in Workiva Inc. (WK)

Vanguard Group Inc. grew its stake in shares of Workiva Inc. (NYSE:WK) by 12.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,336,468 shares of the software maker’s stock after buying an additional 147,450 shares during the quarter. Vanguard Group Inc. owned 3.23% of Workiva worth $25,459,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of Workiva by 9.3% during the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after buying an additional 597 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Workiva in the second quarter worth about $162,000. American International Group Inc. grew its stake in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after purchasing an additional 888 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Workiva by 11.5% in the second quarter. Nationwide Fund Advisors now owns 14,081 shares of the software maker’s stock worth $268,000 after purchasing an additional 1,448 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Workiva by 24.2% in the second quarter. Alliancebernstein L.P. now owns 16,400 shares of the software maker’s stock worth $312,000 after purchasing an additional 3,200 shares during the last quarter. 32.20% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Jerome M. Behar sold 115,195 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $20.00, for a total value of $2,303,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 57,186 shares of Workiva stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.00, for a total transaction of $1,143,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 322,480 shares of company stock valued at $6,574,459. 33.29% of the stock is owned by company insiders.

Several research firms recently issued reports on WK. Credit Suisse Group raised their target price on Workiva from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 8th. Stifel Nicolaus raised their target price on Workiva from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $24.00 target price on shares of Workiva in a research note on Friday, November 3rd. Northland Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of Workiva in a research report on Sunday, October 29th. Finally, Morgan Stanley lifted their price objective on Workiva from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.14.

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Workiva Inc. (NYSE:WK) opened at $22.35 on Monday. Workiva Inc. has a 1-year low of $12.15 and a 1-year high of $23.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of -1.29.

Workiva (NYSE:WK) last released its earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.17. Workiva had a negative net margin of 18.83% and a negative return on equity of 13,251.94%. The firm had revenue of $52.10 million during the quarter, compared to analyst estimates of $50.64 million. During the same period last year, the business earned ($0.23) earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. research analysts forecast that Workiva Inc. will post -1.09 earnings per share for the current fiscal year.

About Workiva

Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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