King Luther Capital Management Corp Has $5.19 Million Stake in Workiva Inc. (NYSE:WK)

King Luther Capital Management Corp decreased its holdings in Workiva Inc. (NYSE:WK) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,335 shares of the software maker’s stock after selling 2,025 shares during the period. King Luther Capital Management Corp owned about 0.12% of Workiva worth $5,187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WK. Farther Finance Advisors LLC boosted its position in Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Workiva during the first quarter valued at $39,000. Harbour Investments Inc. acquired a new stake in Workiva during the first quarter valued at $39,000. Bessemer Group Inc. boosted its position in Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after purchasing an additional 296 shares during the last quarter. Finally, Global Wealth Strategies & Associates acquired a new stake in Workiva during the first quarter valued at $53,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Stock Performance

Workiva stock opened at $73.51 on Monday. The business’s 50-day simple moving average is $68.89 and its 200-day simple moving average is $75.91. The firm has a market capitalization of $4.12 billion, a PE ratio of -61.26 and a beta of 0.86. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WK shares. BNP Paribas started coverage on Workiva in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price target for the company. Stifel Nicolaus reduced their price target on Workiva from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Citigroup reaffirmed a “buy” rating and issued a $105.00 price target (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Robert W. Baird set a $105.00 price target on Workiva in a research report on Wednesday, June 25th. Finally, Raymond James Financial reduced their price target on Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Workiva presently has an average rating of “Buy” and an average price target of $99.22.

Workiva 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.