Wells Fargo & Company MN Reduces Position in Workiva Inc. (WK)

Wells Fargo & Company MN reduced its position in shares of Workiva Inc. (NYSE:WK) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 41,894 shares of the software maker’s stock after selling 703 shares during the period. Wells Fargo & Company MN’s holdings in Workiva were worth $656,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Highwater Wealth Management LLC acquired a new stake in shares of Workiva during the first quarter worth approximately $11,738,000. State Street Corp boosted its stake in shares of Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock worth $4,524,000 after buying an additional 13,881 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Workiva by 1,085.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 123,679 shares of the software maker’s stock worth $1,936,000 after buying an additional 113,250 shares during the period. Two Sigma Investments LP boosted its stake in shares of Workiva by 112.7% in the fourth quarter. Two Sigma Investments LP now owns 116,489 shares of the software maker’s stock worth $1,590,000 after buying an additional 61,720 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Workiva by 88.1% in the fourth quarter. Teachers Advisors LLC now owns 71,214 shares of the software maker’s stock worth $972,000 after buying an additional 33,349 shares during the period. Institutional investors and hedge funds own 40.75% of the company’s stock.

Shares of Workiva Inc. (WK) opened at 19.20 on Monday. The firm’s market capitalization is $794.44 million. The company’s 50-day moving average is $18.46 and its 200 day moving average is $15.60. Workiva Inc. has a 52-week low of $12.15 and a 52-week high of $20.15.

Workiva (NYSE:WK) last announced its earnings results on Thursday, May 4th. The software maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.11. Workiva had a negative net margin of 20.31% and a negative return on equity of 13,251.94%. The firm had revenue of $51.90 million during the quarter, compared to the consensus estimate of $50.67 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities analysts expect that Workiva Inc. will post ($0.66) earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on WK shares. SunTrust Banks, Inc. started coverage on shares of Workiva in a research report on Monday, June 26th. They issued a “buy” rating and a $22.00 target price for the company. Credit Suisse Group increased their target price on shares of Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.86.

In related news, major shareholder Jerome M. Behar sold 76,520 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $18.27, for a total value of $1,398,020.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 16,500 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $18.12, for a total transaction of $298,980.00. The disclosure for this sale can be found here. Insiders sold a total of 240,445 shares of company stock valued at $4,430,643 in the last three months. 33.40% of the stock is currently owned by corporate insiders.

Workiva Company Profile

Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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