Schwab Charles Investment Management Inc. Buys 12,183 Shares of Workiva Inc (WK)

Schwab Charles Investment Management Inc. increased its holdings in shares of Workiva Inc (NYSE:WK) by 10.2% in the second quarter, Holdings Channel reports. The firm owned 131,863 shares of the software maker’s stock after buying an additional 12,183 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Workiva were worth $3,218,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Workiva during the 2nd quarter worth about $311,000. Engineers Gate Manager LP acquired a new stake in shares of Workiva during the 2nd quarter worth about $411,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Workiva during the 2nd quarter worth about $1,645,000. Acadian Asset Management LLC acquired a new stake in shares of Workiva during the 2nd quarter worth about $541,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Workiva during the 1st quarter worth about $312,000. 40.73% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on WK shares. Robert W. Baird raised 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. Stifel Nicolaus raised their price objective on Workiva from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. SunTrust Banks raised their price objective on Workiva to $39.00 and gave the stock a “positive” rating in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Northland Securities raised their price objective on Workiva from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. Finally, Morgan Stanley downgraded Workiva from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $20.00 to $28.00 in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $36.50.

Shares of Workiva stock opened at $36.82 on Monday. Workiva Inc has a 12 month low of $20.50 and a 12 month high of $40.65. The stock has a market cap of $1.71 billion, a P/E ratio of -34.41 and a beta of 0.87. The company has a debt-to-equity ratio of -1.01, a current ratio of 0.86 and a quick ratio of 0.86.

Workiva (NYSE:WK) last announced its earnings results on Tuesday, August 7th. The software maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.12. The firm had revenue of $59.13 million for the quarter, compared to analysts’ expectations of $56.08 million. As a group, equities analysts expect that Workiva Inc will post -1.15 EPS for the current fiscal year.

Workiva Profile

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.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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