Mirae Asset Global Investments Co. Ltd. Acquires 8,040 Shares of Workiva Inc. $WK

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Workiva Inc. (NYSE:WK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,040 shares of the software maker’s stock, valued at approximately $535,000.

Several other large investors have also made changes to their positions in WK. Squarepoint Ops LLC grew its holdings in Workiva by 110.7% in the 2nd quarter. Squarepoint Ops LLC now owns 1,247,400 shares of the software maker’s stock valued at $60,511,000 after buying an additional 655,396 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Workiva by 88.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,109,646 shares of the software maker’s stock worth $66,168,000 after buying an additional 520,839 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in shares of Workiva in the 1st quarter worth approximately $65,091,000. First Trust Advisors LP grew its holdings in shares of Workiva by 16.4% during the 1st quarter. First Trust Advisors LP now owns 862,936 shares of the software maker’s stock worth $51,457,000 after purchasing an additional 121,643 shares in the last quarter. Finally, Ranger Investment Management L.P. raised its stake in shares of Workiva by 11.5% in the first quarter. Ranger Investment Management L.P. now owns 342,185 shares of the software maker’s stock valued at $20,404,000 after purchasing an additional 35,329 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Workiva

In other news, EVP Brandon Ziegler sold 6,571 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $75.97, for a total value of $499,198.87. Following the transaction, the executive vice president owned 126,216 shares of the company’s stock, valued at $9,588,629.52. This represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WK. Stifel Nicolaus set a $95.00 target price on shares of Workiva in a research note on Thursday, August 27th. Citigroup reaffirmed a “buy” rating on shares of Workiva in a research note on Thursday, August 6th. Robert W. Baird lifted their price objective on Workiva from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Zacks Research lowered shares of Workiva from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, UBS Group set a $70.00 price objective on shares of Workiva in a report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Workiva Stock Performance

Shares of WK opened at $69.86 on Tuesday. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 62.38 and a beta of 0.46. The business’s fifty day moving average price is $75.65 and its two-hundred day moving average price is $63.02. Workiva Inc. has a 52 week low of $43.34 and a 52 week high of $95.00.

Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.08). Workiva had a net margin of 4.87% and a negative return on equity of 140.17%. The firm had revenue of $262.96 million for the quarter, compared to analyst estimates of $261.37 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, research analysts forecast that Workiva Inc. will post 1.31 EPS for the current year.

About Workiva

Workiva Inc provides cloud-based software for financial reporting, regulatory compliance, sustainability reporting, and governance, risk, and compliance activities. Its platform helps organizations connect data across business systems, manage reporting workflows, and prepare information for internal and external stakeholders.

The company’s offerings support processes such as preparing regulatory filings, financial statements, sustainability disclosures, and audit and risk documentation.