Geode Capital Management LLC Increases Stock Holdings in Workiva Inc. (NYSE:WK)

Geode Capital Management LLC lifted its stake in shares of Workiva Inc. (NYSE:WK) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,144,826 shares of the software maker’s stock after buying an additional 35,029 shares during the quarter. Geode Capital Management LLC’s holdings in Workiva were worth $90,597,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WK. Groupama Asset Managment acquired a new stake in Workiva during the 3rd quarter worth $381,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Workiva during the third quarter worth about $18,000,000. Janus Henderson Group PLC grew 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 worth $16,919,000 after purchasing an additional 191,078 shares during the last quarter. Assenagon Asset Management S.A. increased its position 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 worth $11,503,000 after purchasing an additional 118,234 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Workiva by 13.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after purchasing an additional 86,746 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup raised their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird raised their target price 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 upped their price target on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised shares of Workiva from a “hold” rating to a “buy” rating and raised their price objective for the stock from $102.00 to $130.00 in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Workiva presently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Workiva Price Performance

Workiva stock opened at $111.38 on Friday. The business has a 50 day simple moving average of $91.16 and a 200-day simple moving average of $80.65. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $116.83. The stock has a market capitalization of $6.17 billion, a PE ratio of -121.07 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.