Workiva Inc (WK) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. trimmed its holdings in shares of Workiva Inc (NYSE:WK) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,575 shares of the software maker’s stock after selling 19,761 shares during the quarter. JPMorgan Chase & Co. owned 0.33% of Workiva worth $2,896,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in WK. Schwab Charles Investment Management Inc. lifted its position in shares of Workiva by 14.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 82,594 shares of the software maker’s stock worth $1,574,000 after purchasing an additional 10,518 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Workiva by 13.2% during the second quarter. Rhumbline Advisers now owns 26,131 shares of the software maker’s stock worth $498,000 after purchasing an additional 3,055 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Workiva by 17.6% during the second quarter. Bank of New York Mellon Corp now owns 96,564 shares of the software maker’s stock valued at $1,840,000 after buying an additional 14,466 shares during the period. Legal & General Group Plc increased its stake in shares of Workiva by 9.3% during the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after buying an additional 597 shares during the period. Finally, Swiss National Bank increased its stake in shares of Workiva by 13.0% during the second quarter. Swiss National Bank now owns 39,021 shares of the software maker’s stock valued at $743,000 after buying an additional 4,500 shares during the period. Institutional investors and hedge funds own 35.15% of the company’s stock.
In other Workiva news, major shareholder Jerome M. Behar sold 2,442 shares of Workiva stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total value of $57,142.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 33.29% of the stock is owned by insiders.
Workiva (NYSE:WK) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.17. The firm had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $50.64 million. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) EPS. analysts forecast that Workiva Inc will post -1.1 EPS for the current year.
Several brokerages have recently commented on WK. SunTrust Banks restated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Workiva in a research note on Wednesday, September 20th. Northland Securities set a $23.00 price target on Workiva and gave the company a “buy” rating in a research note on Sunday, September 10th. Stifel Nicolaus raised their price target on Workiva from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research lowered Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, TheStreet upgraded Workiva from a “d” rating to a “c-” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.14.
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Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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