JPMorgan Chase & Co. lowered its stake in Workiva Inc. (NYSE:WK) by 51.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,741 shares of the software maker’s stock after selling 16,374 shares during the period. JPMorgan Chase & Co.’s holdings in Workiva were worth $246,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in WK. Swiss National Bank increased its stake in shares of Workiva by 9.5% in the first quarter. Swiss National Bank now owns 34,521 shares of the software maker’s stock valued at $540,000 after buying an additional 3,000 shares during the period. UBS Asset Management Americas Inc. increased its stake in Workiva by 27.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,703 shares of the software maker’s stock valued at $556,000 after buying an additional 8,810 shares during the last quarter. Renaissance Technologies LLC increased its stake in Workiva by 64.0% in the fourth quarter. Renaissance Technologies LLC now owns 61,000 shares of the software maker’s stock valued at $833,000 after buying an additional 23,800 shares during the last quarter. Teachers Advisors LLC increased its stake in Workiva by 88.1% in the fourth quarter. Teachers Advisors LLC now owns 71,214 shares of the software maker’s stock valued at $972,000 after buying an additional 33,349 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Workiva by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 82,098 shares of the software maker’s stock valued at $1,285,000 after buying an additional 5,102 shares during the last quarter. 40.77% of the stock is owned by institutional investors.
Shares of Workiva Inc. (NYSE:WK) opened at 20.00 on Friday. The company has a 50-day moving average of $19.51 and a 200 day moving average of $16.63. The firm’s market cap is $827.54 million. Workiva Inc. has a 52-week low of $12.15 and a 52-week high of $20.95.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The company had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) earnings per share. On average, equities analysts expect that Workiva Inc. will post ($0.66) earnings per share for the current year.
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Several analysts recently issued reports on the stock. Northland Securities reissued a “buy” rating and issued a $18.00 price target on shares of Workiva in a research report on Friday, July 28th. BidaskClub downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and issued a $18.00 price target (up previously from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Credit Suisse Group lifted their price target 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. Finally, SunTrust Banks, Inc. assumed coverage on shares of Workiva in a research report on Monday, June 26th. They issued a “buy” rating and a $22.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.00.
In other news, major shareholder Jerome M. Behar sold 76,520 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.27, for a total value of $1,398,020.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jerome M. Behar sold 53,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $18.13, for a total value of $969,955.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,445 shares of company stock worth $8,008,143. 33.40% of the stock is owned by insiders.
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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