Envestnet Portfolio Solutions Inc. Sells 346 Shares of Workiva Inc. (NYSE:WK)

Envestnet Portfolio Solutions Inc. trimmed its position in Workiva Inc. (NYSE:WK) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,176 shares of the software maker’s stock after selling 346 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Workiva were worth $676,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in shares of Workiva by 13.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,510 shares of the software maker’s stock valued at $822,000 after purchasing an additional 896 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Workiva in the fourth quarter valued at approximately $4,576,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Workiva during the 4th quarter valued at $286,000. Swiss National Bank lifted its stake in shares of Workiva by 1.5% in the 4th quarter. Swiss National Bank now owns 96,021 shares of the software maker’s stock valued at $10,514,000 after purchasing an additional 1,400 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Workiva by 16.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,335 shares of the software maker’s stock worth $11,753,000 after purchasing an additional 14,884 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WK has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. 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 research note on Wednesday, February 26th. Stifel Nicolaus reduced their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research 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 price objective for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $120.25.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now owns 34,084 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by insiders.

Workiva Price Performance

WK opened at $87.28 on Tuesday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. The business’s 50-day moving average price is $93.96 and its two-hundred day moving average price is $92.15. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83.

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.