Workiva Inc. (NYSE:WK) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its holdings in shares of Workiva Inc. (NYSE:WK) by 17.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 45,529 shares of the software maker’s stock after selling 9,346 shares during the period. AQR Capital Management LLC owned approximately 0.08% of Workiva worth $4,985,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock valued at $635,108,000 after acquiring an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Workiva by 10.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock valued at $235,209,000 after purchasing an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after acquiring an additional 140,310 shares during the last quarter. First Trust Advisors LP increased its stake in Workiva by 3.0% in the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock valued at $90,252,000 after purchasing an additional 24,172 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Workiva by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock valued at $89,197,000 after acquiring an additional 86,207 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Transactions at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on WK shares. The Goldman Sachs Group reduced their target price on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Stephens started coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target for the company. BMO Capital Markets reduced their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus cut their price target on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial decreased their target price on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.90.

Workiva Stock Up 1.5 %

Shares of NYSE WK opened at $68.77 on Friday. The stock’s fifty day simple moving average is $75.80 and its 200 day simple moving average is $90.25. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -74.75 and a beta of 0.98. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83.

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

Workiva Company 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.