Principal Financial Group Inc. Reduces Holdings in Workiva Inc. (NYSE:WK)

Principal Financial Group Inc. reduced its holdings in shares of Workiva Inc. (NYSE:WK) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,315 shares of the software maker’s stock after selling 376 shares during the period. Principal Financial Group Inc.’s holdings in Workiva were worth $472,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WK. Nisa Investment Advisors LLC grew its position in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares during the period. Sanctuary Advisors LLC purchased a new position in Workiva during the third quarter valued at $168,000. Quantinno Capital Management LP bought a new stake in Workiva during the third quarter valued at about $207,000. Heartwood Wealth Advisors LLC purchased a new stake in Workiva in the fourth quarter worth about $219,000. Finally, Legato Capital Management LLC purchased a new stake in Workiva in the fourth quarter worth about $226,000. 92.21% of the stock is currently owned by institutional investors.

Workiva Stock Performance

Shares of NYSE WK opened at $86.99 on Friday. The company has a market cap of $4.82 billion, a P/E ratio of -94.55 and a beta of 1.09. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83. The firm’s fifty day moving average is $99.91 and its two-hundred day moving average is $91.22.

Wall Street Analyst Weigh In

WK has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on 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 dropped their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup raised 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. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group raised their price target on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

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.