Kessler Investment Group LLC raised its position in shares of Workiva Inc (NYSE:WK) by 68.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,078 shares of the software maker’s stock after acquiring an additional 3,685 shares during the period. Kessler Investment Group LLC’s holdings in Workiva were worth $326,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of WK. Legal & General Group Plc raised its position in shares of Workiva by 14.9% in the third quarter. Legal & General Group Plc now owns 4,718 shares of the software maker’s stock valued at $186,000 after buying an additional 611 shares in the last quarter. Vanguard Group Inc raised its position in shares of Workiva by 9.3% in the third quarter. Vanguard Group Inc now owns 1,950,170 shares of the software maker’s stock valued at $77,031,000 after buying an additional 166,051 shares in the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Workiva in the third quarter valued at approximately $328,000. Vanguard Group Inc. raised its position in shares of Workiva by 9.3% in the third quarter. Vanguard Group Inc. now owns 1,950,170 shares of the software maker’s stock valued at $77,031,000 after buying an additional 166,051 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Workiva by 6.4% in the third quarter. Morgan Stanley now owns 711,783 shares of the software maker’s stock valued at $28,115,000 after buying an additional 42,766 shares in the last quarter. Institutional investors own 46.05% of the company’s stock.
Shares of NYSE WK traded down $0.29 during midday trading on Friday, reaching $38.25. 2,091 shares of the company were exchanged, compared to its average volume of 247,706. The stock has a market cap of $1.69 billion, a PE ratio of -35.82 and a beta of 0.99. Workiva Inc has a one year low of $20.50 and a one year high of $40.84.
Workiva (NYSE:WK) last posted its earnings results on Wednesday, November 7th. The software maker reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.11. The company had revenue of $60.87 million for the quarter, compared to the consensus estimate of $59.84 million. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. As a group, analysts expect that Workiva Inc will post -1.03 EPS for the current year.
In other Workiva news, Director Eugene S. Katz sold 29,800 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $36.13, for a total transaction of $1,076,674.00. Following the sale, the director now owns 30,995 shares of the company’s stock, valued at $1,119,849.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff D. Trom sold 20,000 shares of the business’s stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $34.24, for a total transaction of $684,800.00. Following the sale, the vice president now directly owns 324,909 shares in the company, valued at approximately $11,124,884.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,498 shares of company stock worth $5,506,164. Insiders own 29.94% of the company’s stock.
WK has been the subject of several research analyst reports. Morgan Stanley downgraded shares of Workiva from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $20.00 to $28.00 in a research report on Tuesday, September 18th. Stifel Nicolaus boosted their price objective on shares of Workiva from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Northland Securities boosted their price objective on shares of Workiva from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Robert W. Baird upgraded shares of Workiva from a “neutral” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Tuesday, September 25th. Finally, SunTrust Banks boosted their price objective on shares of Workiva to $46.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $38.67.
Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.
Featured Story: How is Preferred Stock Different from Common Stock?