Vanguard Group Inc. Buys 70,820 Shares of Workiva Inc. (NYSE:WK)

Vanguard Group Inc. grew its stake in shares of Workiva Inc. (NYSE:WK) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,800,074 shares of the software maker’s stock after acquiring an additional 70,820 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Workiva worth $635,108,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Workiva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,782 shares of the software maker’s stock valued at $33,530,000 after buying an additional 6,422 shares during the period. Verition Fund Management LLC raised its stake in shares of Workiva by 241.4% during the third quarter. Verition Fund Management LLC now owns 20,461 shares of the software maker’s stock valued at $1,619,000 after acquiring an additional 14,467 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Workiva by 238.6% during the third quarter. Benjamin Edwards Inc. now owns 3,247 shares of the software maker’s stock worth $257,000 after purchasing an additional 2,288 shares during the period. Janus Henderson Group PLC grew its stake in shares of Workiva by 839.8% in the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after purchasing an additional 191,078 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Workiva in the third quarter valued at $18,000,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WK shares. Stephens began coverage on Workiva in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target on the stock. Stifel Nicolaus decreased their target price 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. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group decreased their price objective on shares of Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.38.

Insider Activity

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now 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 document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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.

Workiva Price Performance

Shares of Workiva stock opened at $78.66 on Monday. The business has a 50-day simple moving average of $91.56 and a 200 day simple moving average of $92.45. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -85.50 and a beta of 1.09. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83.

Workiva 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.