Marshall Wace LLP Trims Position in Workiva Inc. (NYSE:WK)

Marshall Wace LLP lessened its holdings in shares of Workiva Inc. (NYSE:WK) by 63.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the software maker’s stock after selling 5,750 shares during the quarter. Marshall Wace LLP’s holdings in Workiva were worth $241,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in shares of Workiva during the 1st quarter worth $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Workiva during the 1st quarter worth $45,000. RiverPark Advisors LLC increased its holdings in shares of 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 buying an additional 893 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Workiva by 896.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after buying an additional 1,577 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Workiva by 8.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after buying an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of Workiva stock opened at $79.09 on Friday. The business has a 50-day moving average of $76.71 and a 200-day moving average of $77.05. The company has a market capitalization of $4.37 billion, a PE ratio of -47.93 and a beta of 1.05. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $105.00.

Workiva (NYSE:WK) last announced its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. Workiva’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS. On average, equities analysts expect that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated 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 directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WK. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Robert W. Baird lowered their price target on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. Citigroup increased their price target on Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Northland Securities lowered their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.00.

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.