Polar Asset Management Partners Inc. Buys Shares of 53,200 Workiva Inc. (NYSE:WK)

Polar Asset Management Partners Inc. bought a new stake in shares of Workiva Inc. (NYSE:WK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 53,200 shares of the software maker’s stock, valued at approximately $5,825,000.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after purchasing an additional 5,475 shares during the period. Truist Financial Corp acquired a new position in shares of Workiva in the fourth quarter worth $211,000. Atria Wealth Solutions Inc. acquired a new position in shares of Workiva in the fourth quarter worth $237,000. Teacher Retirement System of Texas increased its stake in shares of Workiva by 29.8% in the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,761 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after acquiring an additional 116 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Trading Down 0.7%

Shares of NYSE:WK opened at $67.08 on Monday. The stock has a market capitalization of $3.74 billion, a PE ratio of -72.91 and a beta of 0.98. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The firm has a fifty day moving average price of $72.09 and a 200 day moving average price of $89.50.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, sell-side analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 4.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their price target on shares of Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Raymond James dropped their price target on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Truist Financial dropped their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Citigroup upped their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.30.

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.