Commonwealth Equity Services LLC Boosts Stake in Workiva Inc. (NYSE:WK)

Commonwealth Equity Services LLC lifted its stake in shares of Workiva Inc. (NYSE:WK) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,510 shares of the software maker’s stock after buying an additional 896 shares during the period. Commonwealth Equity Services LLC’s holdings in Workiva were worth $822,000 at the end of the most recent quarter.

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

Insider Activity

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction that occurred 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 represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock worth $1,807,333 over the last quarter. 3.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WK. Stephens assumed coverage on shares of Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 target price for the company. Robert W. Baird upped their price objective 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. BMO Capital Markets lowered their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. Finally, 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, March 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.38.

Workiva Trading Up 1.5 %

WK stock opened at $77.18 on Thursday. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83. The business’s 50-day moving average is $89.65 and its 200 day moving average is $92.38. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -83.89 and a beta of 1.09.

Workiva Company 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.