Conestoga Capital Advisors LLC Sells 163,736 Shares of Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC lessened its position in shares of Workiva Inc. (NYSE:WK) by 13.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,024,709 shares of the software maker’s stock after selling 163,736 shares during the quarter. Conestoga Capital Advisors LLC owned approximately 1.86% of Workiva worth $81,075,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Workiva in the 3rd quarter worth about $28,000. Quarry LP lifted its position in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Workiva in the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC bought a new stake in Workiva in the 1st quarter worth approximately $45,000. Finally, Point72 Hong Kong Ltd bought a new stake in Workiva in the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Price Performance

Shares of WK traded up $2.02 during mid-day trading on Friday, reaching $81.78. The company’s stock had a trading volume of 44,593 shares, compared to its average volume of 366,740. The stock has a market cap of $4.52 billion, a PE ratio of -48.34 and a beta of 1.05. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00. The company’s 50 day moving average is $77.82 and its 200 day moving average is $76.89.

Workiva (NYSE:WK) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $177.50 million during the quarter, compared to analysts’ expectations of $175.22 million. During the same period in the prior year, the firm earned ($0.36) earnings per share. Workiva’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workiva Inc. will post -0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WK shares. Northland Securities reduced their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.86% of the stock is owned by corporate insiders.

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.