Mirae Asset Global Investments Co. Ltd. purchased a new position in Workiva Inc. (NYSE:WK – Free Report) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 8,040 shares of the software maker’s stock, valued at approximately $535,000.
Several other institutional investors and hedge funds have also modified their holdings of WK. Vise Technologies Inc. bought a new position in Workiva in the third quarter valued at approximately $232,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Workiva by 46.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 7,200 shares of the software maker’s stock worth $479,000 after purchasing an additional 2,300 shares during the period. William Mack & Associates Inc. acquired a new position in Workiva in the 3rd quarter worth $39,000. Sterling Capital Management LLC grew its holdings in shares of Workiva by 838.3% during the third quarter. Sterling Capital Management LLC now owns 1,717 shares of the software maker’s stock worth $114,000 after buying an additional 1,534 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Workiva in the 3rd quarter valued at approximately $636,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Workiva Stock Performance
Workiva stock opened at $69.86 on Tuesday. Workiva Inc. has a 52 week low of $43.34 and a 52 week high of $95.00. The stock has a market capitalization of $3.92 billion, a P/E ratio of 62.38 and a beta of 0.46. The stock has a fifty day moving average of $75.65 and a 200-day moving average of $63.02.
Workiva (NYSE:WK – Get Free Report) last issued its earnings results on Thursday, November 5th. The software maker reported $0.72 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.08). The business had revenue of $262.96 million for the quarter, compared to analyst estimates of $261.37 million. Workiva had a negative return on equity of 140.17% and a net margin of 4.87%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. On average, research analysts forecast that Workiva Inc. will post 1.31 earnings per share for the current year.
Insider Buying and Selling at Workiva
In other Workiva news, EVP Brandon Ziegler sold 6,571 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $75.97, for a total value of $499,198.87. Following the completion of the transaction, the executive vice president directly owned 126,216 shares in the company, valued at approximately $9,588,629.52. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.77% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on WK shares. UBS Group set a $70.00 price objective on shares of Workiva in a research report on Wednesday, August 5th. BTIG Research set a $85.00 price objective on shares of Workiva in a research note on Wednesday, September 16th. Robert W. Baird lifted their target price on Workiva from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Stifel Nicolaus set a $95.00 price objective on Workiva in a report on Thursday, August 27th. Finally, Citigroup reiterated a “buy” rating on shares of Workiva in a research note on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.
Check Out Our Latest Stock Report on WK
Workiva Company Profile
Workiva Inc provides cloud-based software for financial reporting, regulatory compliance, sustainability reporting, and governance, risk, and compliance activities. Its platform helps organizations connect data across business systems, manage reporting workflows, and prepare information for internal and external stakeholders.
The company’s offerings support processes such as preparing regulatory filings, financial statements, sustainability disclosures, and audit and risk documentation.
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