State of New Jersey Common Pension Fund D Lowers Holdings in Workiva Inc. (NYSE:WK)

State of New Jersey Common Pension Fund D trimmed its holdings in Workiva Inc. (NYSE:WK) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,280 shares of the software maker’s stock after selling 1,376 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Workiva were worth $2,549,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WK. Nisa Investment Advisors LLC grew its position in Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after acquiring an additional 116 shares during the period. Sanctuary Advisors LLC purchased a new position in Workiva in the third quarter worth approximately $168,000. Quantinno Capital Management LP purchased a new position in Workiva in the third quarter worth approximately $207,000. Heartwood Wealth Advisors LLC purchased a new position in Workiva in the fourth quarter worth approximately $219,000. Finally, Legato Capital Management LLC purchased a new position in Workiva in the fourth quarter worth approximately $226,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WK shares. Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and increased their price objective for the stock from $102.00 to $130.00 in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Citigroup upped their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Robert W. Baird upped their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.14.

Workiva Trading Down 0.9 %

Shares of NYSE WK opened at $86.29 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of -93.79 and a beta of 1.06. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83. The business’s fifty day simple moving average is $104.16 and its 200-day simple moving average is $90.38.

Workiva Company 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.