Hillsdale Investment Management Inc. Lowers Stock Position in Workiva Inc. (NYSE:WK)

Hillsdale Investment Management Inc. lowered its position in Workiva Inc. (NYSE:WKFree Report) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,850 shares of the software maker’s stock after selling 3,710 shares during the period. Hillsdale Investment Management Inc. owned about 0.06% of Workiva worth $3,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WK. Harvest Fund Management Co. Ltd purchased a new stake in Workiva during the third quarter worth about $54,000. SG Americas Securities LLC bought a new position in Workiva during the fourth quarter worth about $107,000. Vinva Investment Management Ltd bought a new position in Workiva during the third quarter worth about $162,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Workiva by 7.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after purchasing an additional 132 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Workiva during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 3,435 shares of Workiva stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total value of $279,815.10. Following the transaction, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at $4,519,971.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WK shares. BMO Capital Markets cut their target price on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. William Blair reiterated an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Stifel Nicolaus cut their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Finally, Citigroup cut their target price on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.86.

View Our Latest Report on Workiva

Workiva Stock Performance

WK traded up $0.64 on Monday, reaching $85.47. The company had a trading volume of 48,646 shares, compared to its average volume of 364,144. The business has a 50 day simple moving average of $81.87 and a 200 day simple moving average of $89.73. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -49.32 and a beta of 1.04. Workiva Inc. has a 52-week low of $76.63 and a 52-week high of $116.00.

Workiva (NYSE:WKGet Free Report) last announced its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities research analysts predict that Workiva Inc. will post -0.62 EPS for the current fiscal year.

Workiva Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Workiva (NYSE:WK)

Receive News & Ratings for Workiva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workiva and related companies with MarketBeat.com's FREE daily email newsletter.