Victory Capital Management Inc. Lowers Stake in Workiva Inc. (NYSE:WK)

Victory Capital Management Inc. lowered its position in shares of Workiva Inc. (NYSE:WK) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,015 shares of the software maker’s stock after selling 180 shares during the quarter. Victory Capital Management Inc.’s holdings in Workiva were worth $659,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WK. Nisa Investment Advisors LLC raised its position in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after buying an additional 116 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Workiva during the fourth quarter valued at approximately $211,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Workiva during the fourth quarter valued at approximately $219,000. Abacus Planning Group Inc. bought a new stake in shares of Workiva during the fourth quarter valued at approximately $222,000. Finally, Legato Capital Management LLC bought a new stake in shares of Workiva during the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last quarter. Insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WK. The Goldman Sachs Group boosted their price target on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird boosted their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Stephens began coverage on shares of Workiva in a research report on Wednesday. They issued an “overweight” rating and a $111.00 price target on the stock. Finally, Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Stock Down 1.0 %

WK stock opened at $87.28 on Friday. 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 $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. The firm’s fifty day simple moving average is $94.33 and its two-hundred day simple moving average is $91.82.

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.