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

Conestoga Capital Advisors LLC lowered its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,024,709 shares of the software maker's stock after selling 163,736 shares during the period. Conestoga Capital Advisors LLC owned 1.86% of Workiva worth $81,075,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WK. Champlain Investment Partners LLC boosted its stake in shares of Workiva by 58.2% during the 1st quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker's stock worth $113,642,000 after acquiring an additional 492,945 shares during the period. Swedbank AB acquired a new position in shares of Workiva in the first quarter valued at $16,180,000. Vanguard Group Inc. raised its position in shares of Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker's stock valued at $439,767,000 after purchasing an additional 181,520 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Workiva by 435.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker's stock worth $11,503,000 after buying an additional 118,234 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Workiva by 29.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,789 shares of the software maker's stock worth $29,662,000 after buying an additional 80,551 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction that occurred 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 owns 49,887 shares in the company, valued at approximately $3,721,570.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.86% of the stock is owned by company insiders.

Workiva Stock Performance

Shares of NYSE WK traded down $0.59 during midday trading on Friday, reaching $79.17. The company's stock had a trading volume of 248,051 shares, compared to its average volume of 367,699. The company has a market cap of $4.37 billion, a P/E ratio of -47.98 and a beta of 1.05. The business's 50 day moving average price is $77.87 and its two-hundred day moving average price is $76.91. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $105.00.

Workiva (NYSE:WK - Get Free Report) last announced 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 business had revenue of $177.50 million during the quarter, compared to analysts' expectations of $175.22 million. Workiva's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) earnings per share. Sell-side analysts forecast that Workiva Inc. will post -0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on WK. StockNews.com downgraded shares of Workiva from a "buy" rating to a "hold" rating in a research report on Saturday, August 3rd. Northland Securities reduced their price target on Workiva from $106.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Workiva currently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

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.