Voloridge Investment Management LLC Reduces Holdings in Workiva Inc. (NYSE:WK)

Voloridge Investment Management LLC lowered its stake in shares of Workiva Inc. (NYSE:WK) by 27.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,796 shares of the software maker’s stock after selling 24,532 shares during the quarter. Voloridge Investment Management LLC owned about 0.12% of Workiva worth $7,095,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Workiva by 2.7% in the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock valued at $562,000 after buying an additional 135 shares during the period. Arizona State Retirement System boosted its stake in shares of Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after buying an additional 224 shares during the last quarter. Twin Tree Management LP purchased a new stake in Workiva in the 4th quarter worth approximately $25,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Workiva by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the software maker’s stock valued at $579,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

WK opened at $67.08 on Monday. The stock has a market capitalization of $3.74 billion, a PE ratio of -72.91 and a beta of 0.98. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The business’s 50 day moving average price is $72.09 and its 200 day moving average price is $89.50.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period last year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares of the company’s stock, valued at $5,236,688.14. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock valued at $1,807,333 over the last quarter. 4.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WK has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Truist Financial decreased their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Citigroup raised their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Raymond James lowered their price target on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, BNP Paribas began coverage on Workiva in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

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.