State of New Jersey Common Pension Fund D Has $1.75 Million Holdings in Workiva Inc. (NYSE:WK)

State of New Jersey Common Pension Fund D lessened its position in Workiva Inc. (NYSE:WK) by 26.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,992 shares of the software maker’s stock after selling 8,817 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Workiva were worth $1,751,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Workiva in the first quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new stake in Workiva during the 1st quarter worth about $45,000. RiverPark Advisors LLC boosted its position in Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares during the period. Headlands Technologies LLC grew its stake in Workiva by 896.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after acquiring an additional 1,577 shares in the last quarter. Finally, Dynasty Wealth Management LLC acquired a new position in shares of Workiva in the 1st quarter valued at about $226,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Price Performance

Workiva stock opened at $77.95 on Wednesday. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00. The company’s fifty day moving average price is $75.39 and its two-hundred day moving average price is $77.52. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -45.32 and a beta of 1.05.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $177.50 million during the quarter, compared to analyst estimates of $175.22 million. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share. As a group, sell-side analysts anticipate that Workiva Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares in the company, valued at approximately $3,721,570.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WK. BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research report on Tuesday, June 11th. Citigroup increased their price objective on Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Northland Securities lowered their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research report on Thursday, June 27th. Finally, StockNews.com lowered Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Workiva Profile

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.