Synovus Financial Corp Invests $325,000 in Workiva Inc (NYSE:WK)

Synovus Financial Corp bought a new position in shares of Workiva Inc (NYSE:WK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,432 shares of the software maker’s stock, valued at approximately $325,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Workiva by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,606 shares of the software maker’s stock worth $499,000 after acquiring an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Workiva by 21.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,874 shares of the software maker’s stock worth $109,000 after acquiring an additional 335 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Workiva by 541.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 462 shares of the software maker’s stock worth $27,000 after acquiring an additional 390 shares during the period. FTB Advisors Inc. boosted its stake in shares of Workiva by 130.4% during the 3rd quarter. FTB Advisors Inc. now owns 721 shares of the software maker’s stock worth $31,000 after acquiring an additional 408 shares during the period. Finally, United Services Automobile Association boosted its stake in shares of Workiva by 7.5% during the 2nd quarter. United Services Automobile Association now owns 6,904 shares of the software maker’s stock worth $401,000 after acquiring an additional 479 shares during the period. Institutional investors own 56.06% of the company’s stock.

Several research firms recently issued reports on WK. Zacks Investment Research upgraded Workiva from a “sell” rating to a “hold” rating in a research note on Saturday. SunTrust Banks boosted their price target on Workiva to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine upgraded Workiva from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley reduced their price target on Workiva from $46.00 to $42.00 and set an “underweight” rating for the company in a research note on Wednesday, October 16th. Finally, Northland Securities restated a “buy” rating and issued a $62.00 price target on shares of Workiva in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.75.

WK traded up $2.15 during trading on Friday, hitting $40.64. The stock had a trading volume of 359,385 shares, compared to its average volume of 368,095. The company has a 50 day moving average price of $42.64 and a 200-day moving average price of $51.27. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -43.70 and a beta of 0.99. Workiva Inc has a one year low of $31.83 and a one year high of $64.11. The company has a debt-to-equity ratio of 3.80, a current ratio of 1.00 and a quick ratio of 1.00.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.24. The firm had revenue of $74.18 million during the quarter, compared to the consensus estimate of $72.32 million. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts predict that Workiva Inc will post -1.03 EPS for the current fiscal year.

In other Workiva news, CEO Martin J. Vanderploeg sold 25,000 shares of Workiva stock in a transaction on Monday, August 12th. The stock was sold at an average price of $62.14, for a total value of $1,553,500.00. Following the completion of the transaction, the chief executive officer now directly owns 314,918 shares of the company’s stock, valued at approximately $19,569,004.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott G. Ryan sold 31,250 shares of Workiva stock in a transaction on Friday, August 16th. The shares were sold at an average price of $56.25, for a total value of $1,757,812.50. The disclosure for this sale can be found here. Insiders sold a total of 1,142,038 shares of company stock valued at $64,386,888 over the last 90 days. 18.46% of the stock is currently owned by corporate insiders.

Workiva Company Profile

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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