Picton Mahoney Asset Management Boosts Holdings in Workiva Inc. (NYSE:WK)

Picton Mahoney Asset Management boosted its position in Workiva Inc. (NYSE:WK) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,515 shares of the software maker’s stock after purchasing an additional 845 shares during the quarter. Picton Mahoney Asset Management’s holdings in Workiva were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WK. Loomis Sayles & Co. L P raised its position in Workiva by 159.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock worth $69,257,000 after purchasing an additional 419,640 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Workiva in the fourth quarter worth about $36,581,000. Allspring Global Investments Holdings LLC lifted its holdings in Workiva by 349.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 178,754 shares of the software maker’s stock worth $18,115,000 after buying an additional 138,945 shares during the period. Ameriprise Financial Inc. lifted its holdings in Workiva by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock worth $156,836,000 after buying an additional 126,094 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in Workiva by 39.4% in the third quarter. TimesSquare Capital Management LLC now owns 398,190 shares of the software maker’s stock worth $40,353,000 after buying an additional 112,551 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on WK shares. BMO Capital Markets lowered their price objective on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Citigroup cut their price objective on shares of Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. William Blair reiterated an “outperform” rating on shares of Workiva in a report on Friday, May 3rd. Finally, Stifel Nicolaus dropped their price target on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.86.

Workiva Price Performance

Shares of Workiva stock traded down $1.91 during trading on Wednesday, hitting $80.15. 235,428 shares of the company’s stock traded hands, compared to its average volume of 375,753. Workiva Inc. has a 1 year low of $76.63 and a 1 year high of $116.00. The business has a 50-day simple moving average of $82.13 and a 200-day simple moving average of $90.21. The stock has a market capitalization of $4.39 billion, a P/E ratio of -46.60 and a beta of 1.04.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. On average, equities analysts predict that Workiva Inc. will post -0.78 earnings per share for the current fiscal year.

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.