Legacy Bridge LLC Decreases Stake in Workiva Inc. (NYSE:WK)

Legacy Bridge LLC decreased its holdings in Workiva Inc. (NYSE:WK) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,664 shares of the software maker’s stock after selling 1,790 shares during the period. Legacy Bridge LLC’s holdings in Workiva were worth $730,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WK. Versor Investments LP bought a new position in shares of Workiva in the third quarter worth $1,217,000. TimesSquare Capital Management LLC lifted its holdings in shares of Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after buying an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Workiva by 138.8% during the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after acquiring an additional 31,421 shares in the last quarter. Nordea Investment Management AB bought a new position in Workiva in the 4th quarter valued at $59,894,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Workiva in the third quarter worth $641,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of WK opened at $97.74 on Tuesday. The firm’s 50-day simple moving average is $105.34 and its two-hundred day simple moving average is $87.84. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

Analyst Ratings Changes

WK has been the subject of a number of research reports. BMO Capital Markets boosted 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. The Goldman Sachs Group increased their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $102.00 to $130.00 in a report on Wednesday, December 18th. Citigroup lifted their target price on shares of 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 Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.