Quantinno Capital Management LP Makes New Investment in Workiva Inc. (NYSE:WK)

Quantinno Capital Management LP bought a new stake in shares of Workiva Inc. (NYSE:WK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,622 shares of the software maker’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in Workiva during the 3rd quarter valued at about $18,000,000. Janus Henderson Group PLC raised its holdings in shares of Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock valued at $16,919,000 after buying an additional 191,078 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Workiva by 435.5% during the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock valued at $11,503,000 after buying an additional 118,234 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Workiva by 13.5% during the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock worth $57,629,000 after buying an additional 86,746 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Workiva by 345.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 92,451 shares of the software maker’s stock worth $7,315,000 after buying an additional 71,719 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WK shares. Citigroup boosted their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus increased their target price on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. 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. Finally, BMO Capital Markets upped their price target on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.80.

Workiva Trading Up 1.6 %

Shares of Workiva stock opened at $105.52 on Tuesday. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $106.41. The company’s 50-day moving average price is $89.86 and its two-hundred day moving average price is $80.21. The stock has a market cap of $5.84 billion, a PE ratio of -114.70 and a beta of 1.09.

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.