Point72 Asia Singapore Pte. Ltd. Lowers Stock Position in Workiva Inc. (NYSE:WK)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Workiva Inc. (NYSE:WK) by 67.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 856 shares of the software maker’s stock after selling 1,773 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Workiva were worth $62,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Workiva by 2.0% during the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock worth $498,000 after purchasing an additional 137 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Workiva by 8.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after purchasing an additional 179 shares during the period. Xponance Inc. grew its holdings in Workiva by 6.0% during the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock valued at $233,000 after buying an additional 182 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Workiva by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock valued at $358,000 after buying an additional 183 shares during the last quarter. Finally, Hardy Reed LLC raised its position in shares of Workiva by 6.7% during the first quarter. Hardy Reed LLC now owns 3,425 shares of the software maker’s stock valued at $290,000 after buying an additional 215 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares of the company’s stock, valued at $3,721,570.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.86% of the stock is owned by corporate insiders.

Workiva Stock Performance

Shares of Workiva stock opened at $80.48 on Monday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of -46.79 and a beta of 1.05. The stock has a 50 day moving average price of $75.74 and a 200-day moving average price of $77.40. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $177.50 million for the quarter, compared to the consensus estimate of $175.22 million. During the same period last year, the firm earned ($0.36) earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Workiva Company 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.