Workiva Inc. (WK) Position Lowered by Morgan Stanley
Morgan Stanley reduced its position in shares of Workiva Inc. (NYSE:WK) by 75.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,859 shares of the software maker’s stock after selling 966,620 shares during the period. Morgan Stanley’s holdings in Workiva were worth $4,911,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Workiva by 2.4% in the first quarter. Geode Capital Management LLC now owns 154,844 shares of the software maker’s stock worth $2,423,000 after buying an additional 3,639 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Workiva by 13.6% in the first quarter. Vanguard Group Inc. now owns 1,189,018 shares of the software maker’s stock worth $18,609,000 after buying an additional 141,977 shares during the last quarter. Menta Capital LLC purchased a new stake in shares of Workiva during the first quarter worth about $489,000. Teachers Advisors LLC boosted its stake in shares of Workiva by 2.4% in the first quarter. Teachers Advisors LLC now owns 72,894 shares of the software maker’s stock worth $1,141,000 after buying an additional 1,680 shares during the last quarter. Finally, Oberndorf William E boosted its stake in shares of Workiva by 38.8% in the first quarter. Oberndorf William E now owns 2,369,384 shares of the software maker’s stock worth $37,081,000 after buying an additional 662,408 shares during the last quarter. Institutional investors and hedge funds own 41.36% of the company’s stock.
Workiva Inc. (NYSE WK) traded down 0.26% during midday trading on Thursday, reaching $19.05. 3,390 shares of the company’s stock traded hands. The company’s 50-day moving average price is $19.59 and its 200-day moving average price is $16.84. Workiva Inc. has a 52-week low of $12.15 and a 52-week high of $20.95. The stock’s market cap is $796.79 million.
Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The business had revenue of $49.40 million during the quarter, compared to analyst estimates of $48.37 million. During the same period in the prior year, the business earned ($0.20) EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts predict that Workiva Inc. will post ($0.63) EPS for the current fiscal year.
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Several brokerages have recently commented on WK. BidaskClub cut shares of Workiva from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reiterated a “buy” rating and set a $21.00 price target on shares of Workiva in a research report on Friday, August 4th. Northland Securities reiterated a “buy” rating and set a $18.00 price target on shares of Workiva in a research report on Friday, July 28th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (up previously from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Finally, Credit Suisse Group raised their target price on shares of Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, May 15th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.88.
In related news, major shareholder Jerome M. Behar sold 53,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $18.13, for a total value of $969,955.00. 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 76,520 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.27, for a total transaction of $1,398,020.40. The disclosure for this sale can be found here. Insiders sold a total of 435,524 shares of company stock valued at $8,440,743 over the last 90 days. Company insiders own 33.40% of the company’s stock.
Workiva Company Profile
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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