Workiva Inc. (WK) Position Raised by New York State Common Retirement Fund
New York State Common Retirement Fund boosted its position in shares of Workiva Inc. (NYSE:WK) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,700 shares of the software maker’s stock after purchasing an additional 5,299 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Workiva worth $509,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after acquiring an additional 597 shares during the last quarter. Bank of Montreal Can bought a new position in Workiva during the 2nd quarter valued at $162,000. American International Group Inc. boosted its stake in Workiva by 7.0% during the 1st quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock valued at $212,000 after acquiring an additional 888 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Workiva by 11.5% during the 2nd quarter. Nationwide Fund Advisors now owns 14,081 shares of the software maker’s stock valued at $268,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Workiva by 24.2% during the 2nd quarter. Alliancebernstein L.P. now owns 16,400 shares of the software maker’s stock valued at $312,000 after acquiring an additional 3,200 shares during the last quarter. 32.20% of the stock is owned by institutional investors and hedge funds.
Workiva Inc. (NYSE WK) opened at $22.35 on Monday. The company has a debt-to-equity ratio of -1.29, a quick ratio of 0.90 and a current ratio of 0.90. Workiva Inc. has a 52-week low of $12.15 and a 52-week high of $23.70.
Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $50.64 million. During the same period last year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. research analysts forecast that Workiva Inc. will post -1.09 EPS for the current year.
A number of research analysts have commented on WK shares. Zacks Investment Research upgraded shares of Workiva from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, October 5th. Northland Securities set a $23.00 price objective on shares of Workiva and gave the company a “buy” rating in a research note on Sunday, September 10th. BidaskClub downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus increased their price objective on shares of Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $24.00 price objective on shares of Workiva in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $22.14.
In other news, major shareholder Jerome M. Behar sold 115,195 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $20.00, for a total value of $2,303,900.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $22.04, for a total transaction of $551,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 322,480 shares of company stock worth $6,574,459. Insiders own 33.29% 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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