Vanguard Group Inc. Buys 70,820 Shares of Workiva Inc. (NYSE:WK)

Vanguard Group Inc. increased its stake in shares of Workiva Inc. (NYSE:WK) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,800,074 shares of the software maker’s stock after acquiring an additional 70,820 shares during the period. Vanguard Group Inc. owned about 10.47% of Workiva worth $635,108,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WK. Conestoga Capital Advisors LLC boosted its holdings in shares of Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after buying an additional 140,310 shares during the last quarter. Geode Capital Management LLC lifted its stake in Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after acquiring an additional 35,029 shares during the last quarter. TimesSquare Capital Management LLC grew its position in shares of Workiva by 19.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock valued at $61,316,000 after acquiring an additional 92,192 shares during the period. Nordea Investment Management AB bought a new position in shares of Workiva in the 4th quarter valued at about $59,894,000. Finally, Groupama Asset Managment bought a new stake in shares of Workiva in the 3rd quarter valued at about $381,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Down 3.0 %

Shares of Workiva stock opened at $78.66 on Monday. The company has a 50-day simple moving average of $91.56 and a two-hundred day simple moving average of $92.45. Workiva Inc. has a twelve month low of $65.47 and a twelve month high of $116.83. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -85.50 and a beta of 1.09.

Insider Activity

In related news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was 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 approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at $5,236,688.14. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 3.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WK shares. The Goldman Sachs Group reduced their price target on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a report on Friday. Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird raised their price target on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets decreased their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

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.