Teacher Retirement System of Texas Has $840,000 Stock Position in Workiva Inc. (NYSE:WK)

Teacher Retirement System of Texas increased its holdings in Workiva Inc. (NYSE:WK) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,668 shares of the software maker’s stock after acquiring an additional 1,761 shares during the period. Teacher Retirement System of Texas’ holdings in Workiva were worth $840,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Workiva by 141.6% in the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after purchasing an additional 5,475 shares during the period. Nordea Investment Management AB purchased a new position in Workiva during the fourth quarter valued at approximately $59,894,000. Truist Financial Corp acquired a new position in Workiva in the 4th quarter valued at approximately $211,000. Janus Henderson Group PLC lifted its position in Workiva by 839.8% in the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after buying an additional 191,078 shares in the last quarter. Finally, Groupama Asset Managment acquired a new stake in shares of Workiva during the 3rd quarter valued at $381,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Stock Performance

WK opened at $78.66 on Friday. The stock has a 50-day moving average of $91.56 and a 200-day moving average of $92.30. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83. The company has a market cap of $4.41 billion, a PE ratio of -85.50 and a beta of 1.09.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WK shares. Robert W. Baird upped their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. Stifel Nicolaus cut their price target on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Friday. Finally, BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Buying and Selling

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by insiders.

About Workiva

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.