Legato Capital Management LLC Acquires 2,977 Shares of Workiva Inc. (NYSE:WK)

Legato Capital Management LLC grew its holdings in Workiva Inc. (NYSE:WK) by 144.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,041 shares of the software maker’s stock after acquiring an additional 2,977 shares during the period. Legato Capital Management LLC’s holdings in Workiva were worth $383,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WK. Commonwealth Equity Services LLC grew its position in Workiva by 13.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,510 shares of the software maker’s stock worth $822,000 after acquiring an additional 896 shares in the last quarter. Teacher Retirement System of Texas grew its position in 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 in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Workiva in the fourth quarter worth approximately $1,117,000. LPL Financial LLC grew its position in Workiva by 3.8% in the fourth quarter. LPL Financial LLC now owns 14,534 shares of the software maker’s stock worth $1,591,000 after acquiring an additional 527 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after acquiring an additional 70,820 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WK has been the subject of several recent research reports. Raymond James Financial decreased their target price on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Robert W. Baird set a $105.00 price objective on shares of Workiva in a research note on Wednesday, June 25th. Stephens restated an “overweight” rating and issued a $95.00 price objective on shares of Workiva in a research note on Thursday, May 22nd. Truist Financial reduced their price objective on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Citigroup restated a “buy” rating and issued a $105.00 price objective (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.30.

Workiva Price Performance

NYSE:WK opened at $68.01 on Friday. The stock has a market cap of $3.79 billion, a P/E ratio of -58.13 and a beta of 0.86. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The company has a fifty day moving average price of $67.68 and a 200 day moving average price of $78.78.

Workiva (NYSE:WK) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. Workiva’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. As a group, equities research analysts anticipate that Workiva Inc. will post -0.92 EPS for the current year.

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.