Northern Trust Corp Increases Position in Workiva Inc. (NYSE:WK)

Northern Trust Corp increased its position in shares of Workiva Inc. (NYSE:WK) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 596,466 shares of the software maker’s stock after acquiring an additional 38,633 shares during the period. Northern Trust Corp’s holdings in Workiva were worth $65,313,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after acquiring an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in 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 worth $235,209,000 after purchasing an additional 200,220 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake 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 worth $127,570,000 after purchasing an additional 140,310 shares during the period. First Trust Advisors LP grew its holdings in Workiva by 3.0% during the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock valued at $90,252,000 after buying an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Workiva by 11.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock valued at $89,197,000 after buying an additional 86,207 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Trading Up 2.4 %

Shares of WK opened at $67.87 on Wednesday. The company’s fifty day simple moving average is $76.55 and its 200-day simple moving average is $90.49. The company has a market cap of $3.81 billion, a P/E ratio of -73.77 and a beta of 0.98. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million during the quarter, compared to analysts’ expectations of $204.24 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Raymond James dropped their price target on Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. BNP Paribas assumed coverage on Workiva in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price objective on the stock. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Stephens assumed coverage on shares of Workiva in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.90.

Insider Buying and Selling

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred 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 owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 103,509 shares in the company, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company’s stock.

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.