Nicholas Investment Partners LP Acquires New Holdings in Workiva Inc. (NYSE:WK)

Nicholas Investment Partners LP acquired a new stake in Workiva Inc. (NYSE:WK) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 17,478 shares of the software maker’s stock, valued at approximately $1,914,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Workiva by 1.2% in the 4th 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. lifted its stake in shares of 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 acquiring an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after acquiring an additional 140,310 shares during the period. First Trust Advisors LP raised its position in shares of Workiva by 3.0% during the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock worth $90,252,000 after acquiring an additional 24,172 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock worth $89,197,000 after acquiring an additional 86,207 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Workiva

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $88,700.00. Following the completion of the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by corporate insiders.

Workiva Trading Up 1.6%

Shares of NYSE:WK opened at $72.00 on Wednesday. The firm’s 50-day moving average is $74.74 and its 200 day moving average is $90.14. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -78.26 and a beta of 0.98. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Stephens assumed coverage on shares of Workiva in a report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target for the company. Truist Financial lowered their price target on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group reduced their price objective on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Stifel Nicolaus dropped their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.90.

About Workiva

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.