Workiva Inc. (NYSE:WK) Shares Bought by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC boosted its position in shares of Workiva Inc. (NYSE:WK) by 0.6% in the first quarter, HoldingsChannel.com reports. The fund owned 1,039,020 shares of the software maker’s stock after acquiring an additional 5,728 shares during the quarter. Workiva comprises about 4.7% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 9th largest holding. Praesidium Investment Management Company LLC’s holdings in Workiva were worth $91,704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new position in shares of Workiva in the 1st quarter valued at about $103,587,000. Price T Rowe Associates Inc. MD increased its stake in shares of Workiva by 213.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,177,494 shares of the software maker’s stock valued at $107,882,000 after purchasing an additional 802,399 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Workiva by 1,458.6% in the 1st quarter. Ameriprise Financial Inc. now owns 732,311 shares of the software maker’s stock valued at $64,634,000 after purchasing an additional 685,326 shares in the last quarter. Norges Bank purchased a new position in shares of Workiva in the 4th quarter valued at about $54,844,000. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of Workiva in the 1st quarter valued at about $46,396,000. 72.99% of the stock is owned by institutional investors.

In other news, CEO Martin J. Vanderploeg sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, June 18th. The stock was sold at an average price of $107.12, for a total transaction of $1,874,600.00. Following the transaction, the chief executive officer now directly owns 357,701 shares in the company, valued at approximately $38,316,931.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jill Klindt sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $91.28, for a total value of $821,520.00. Following the completion of the transaction, the chief financial officer now owns 43,813 shares in the company, valued at $3,999,250.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,500 shares of company stock worth $14,301,670. Insiders own 12.25% of the company’s stock.

Separately, Zacks Investment Research lowered Workiva from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $92.50.

NYSE:WK traded down $0.21 during trading hours on Thursday, hitting $127.73. 3,080 shares of the stock were exchanged, compared to its average volume of 247,311. Workiva Inc. has a 52-week low of $51.44 and a 52-week high of $129.44. The business’s fifty day simple moving average is $106.10. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 4.42. The firm has a market cap of $6.39 billion, a P/E ratio of -136.11 and a beta of 1.43.

Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, May 4th. The software maker reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.05. The company had revenue of $104.20 million during the quarter, compared to analyst estimates of $100.43 million. Workiva had a negative return on equity of 51.48% and a negative net margin of 12.33%. Workiva’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Workiva Inc. will post -1.11 earnings per share for the current fiscal year.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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