Legacy Bridge LLC Sells 10,710 Shares of Workiva Inc. (NYSE:WK)

Legacy Bridge LLC lowered its holdings in Workiva Inc. (NYSE:WK) by 55.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,454 shares of the software maker’s stock after selling 10,710 shares during the period. Legacy Bridge LLC’s holdings in Workiva were worth $617,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Workiva by 10,356.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,011 shares of the software maker’s stock valued at $1,423,000 after acquiring an additional 13,877 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Workiva by 24.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,458 shares of the software maker’s stock valued at $656,000 after buying an additional 1,257 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Workiva by 9.5% during the 4th quarter. Teacher Retirement System of Texas now owns 5,570 shares of the software maker’s stock valued at $566,000 after buying an additional 483 shares during the period. Jump Financial LLC raised its holdings in Workiva by 307.3% in the 4th quarter. Jump Financial LLC now owns 27,743 shares of the software maker’s stock worth $2,817,000 after purchasing an additional 20,931 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Workiva by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 5,735 shares of the software maker’s stock worth $582,000 after purchasing an additional 624 shares during the period. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Workiva Price Performance

Shares of WK opened at $73.09 on Monday. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $116.00. The firm has a fifty day moving average price of $74.70 and a 200 day moving average price of $78.39.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted ($0.36) EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Workiva Inc. will post -0.86 EPS 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.