Principal Financial Group Inc. Sells 376 Shares of Workiva Inc. (NYSE:WK)

Principal Financial Group Inc. cut its holdings in Workiva Inc. (NYSE:WK) by 8.0% in the fourth quarter, HoldingsChannel reports. The firm owned 4,315 shares of the software maker’s stock after selling 376 shares during the quarter. Principal Financial Group Inc.’s holdings in Workiva were worth $472,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WK. Nordea Investment Management AB purchased a new position in shares of Workiva in the 4th quarter worth $59,894,000. Groupama Asset Managment bought a new position in shares of Workiva in the 3rd quarter valued at about $381,000. Jacobs Levy Equity Management Inc. purchased a new position in Workiva in the third quarter worth about $18,000,000. Janus Henderson Group PLC increased its stake in Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after acquiring an additional 191,078 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after purchasing an additional 140,310 shares during the period. Institutional investors own 92.21% of the company’s stock.

Workiva Trading Down 2.6 %

Shares of WK opened at $86.99 on Friday. The firm has a fifty day moving average price of $99.91 and a 200-day moving average price of $91.22. The firm has a market capitalization of $4.82 billion, a P/E ratio of -94.55 and a beta of 1.09. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WK shares. Robert W. Baird lifted their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus dropped their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Citigroup boosted their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. BMO Capital Markets lowered their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.57.

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.