HighTower Advisors LLC Has $2.77 Million Position in Workiva Inc. (NYSE:WK)

Posted by Defense World Staff on May 23rd, 2023

HighTower Advisors LLC lessened its position in Workiva Inc. (NYSE:WK – Get Rating) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,865 shares of the software maker’s stock after selling 2,785 shares during the period. HighTower Advisors LLC owned 0.06% of Workiva worth $2,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WK. Thrivent Financial for Lutherans grew its position in shares of Workiva by 3.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 803,483 shares of the software maker’s stock valued at $67,469,000 after buying an additional 25,518 shares during the last quarter. Swiss National Bank grew its position in shares of Workiva by 2.4% in the 4th quarter. Swiss National Bank now owns 111,121 shares of the software maker’s stock valued at $9,331,000 after buying an additional 2,600 shares during the last quarter. Arizona State Retirement System grew its position in shares of Workiva by 4.4% in the 4th quarter. Arizona State Retirement System now owns 12,989 shares of the software maker’s stock valued at $1,091,000 after buying an additional 549 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Workiva by 20.1% in the 4th quarter. Benjamin Edwards Inc. now owns 956 shares of the software maker’s stock valued at $80,000 after buying an additional 160 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Workiva by 4.0% in the 4th quarter. LPL Financial LLC now owns 4,799 shares of the software maker’s stock valued at $403,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Workiva Trading Up 7.7 %

Shares of NYSE:WK opened at $96.75 on Tuesday. The business’s 50 day simple moving average is $94.79 and its two-hundred day simple moving average is $88.02. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 381.76. Workiva Inc. has a 52-week low of $59.43 and a 52-week high of $104.76.

Workiva (NYSE:WK – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The software maker reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.05). The firm had revenue of $150.19 million during the quarter, compared to the consensus estimate of $149.42 million. Workiva had a negative return on equity of 4,861.53% and a negative net margin of 21.24%. As a group, equities analysts forecast that Workiva Inc. will post -2 EPS for the current year.

Analyst Ratings Changes

WK has been the topic of a number of analyst reports. Truist Financial upped their price target on Workiva from $100.00 to $110.00 in a research report on Wednesday, May 3rd. Citigroup upped their target price on Workiva from $101.00 to $108.00 in a research report on Wednesday, February 22nd. StockNews.com assumed coverage on Workiva in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus upped their target price on Workiva from $77.00 to $83.00 in a research report on Wednesday, May 3rd. Finally, Robert W. Baird upped their target price on Workiva from $100.00 to $106.00 in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.67.

Insider Transactions at Workiva

In other news, Director Michael M. Crow sold 4,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $90.20, for a total value of $360,800.00. Following the completion of the sale, the director now directly owns 14,943 shares of the company’s stock, valued at $1,347,858.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Brandon Ziegler sold 10,818 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $87.67, for a total transaction of $948,414.06. Following the completion of the sale, the chief accounting officer now directly owns 97,364 shares of the company’s stock, valued at $8,535,901.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael M. Crow sold 4,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $90.20, for a total value of $360,800.00. Following the sale, the director now directly owns 14,943 shares of the company’s stock, valued at $1,347,858.60. The disclosure for this sale can be found here. Insiders sold a total of 38,249 shares of company stock valued at $3,389,641 over the last ninety days. 5.71% of the stock is currently owned by insiders.

About Workiva

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Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process, and people. Its platform includes Wdesk, which offers controlled collaboration, data linking, data integrations, granular permissions, process management, and a full audit trail.