Nisa Investment Advisors LLC Grows Holdings in Workiva Inc. (NYSE:WK)

Nisa Investment Advisors LLC lifted its stake in Workiva Inc. (NYSE:WK) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,452 shares of the software maker’s stock after acquiring an additional 116 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Workiva were worth $159,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC increased its stake in Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after purchasing an additional 198 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in shares of Workiva in the fourth quarter valued at approximately $219,000. Harbor Capital Advisors Inc. increased its stake in Workiva by 6.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,060 shares of the software maker’s stock worth $992,000 after buying an additional 537 shares during the period. Nordea Investment Management AB purchased a new stake in Workiva during the 4th quarter worth approximately $59,894,000. Finally, World Investment Advisors LLC acquired a new stake in Workiva during the 3rd quarter worth approximately $396,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of NYSE WK opened at $99.07 on Friday. The stock’s 50-day simple moving average is $105.89 and its 200-day simple moving average is $88.22. The firm has a market capitalization of $5.49 billion, a PE ratio of -107.68 and a beta of 1.07. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets upped their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and increased their price target for the company from $102.00 to $130.00 in a research report on Wednesday, December 18th. Citigroup boosted their price objective on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.14.

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.