King Luther Capital Management Corp Raises Position in Workiva Inc. (NYSE:WK)

King Luther Capital Management Corp raised its position in Workiva Inc. (NYSE:WK) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,360 shares of the software maker’s stock after buying an additional 3,780 shares during the period. King Luther Capital Management Corp’s holdings in Workiva were worth $7,704,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Conestoga Capital Advisors LLC boosted its stake in Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after buying an additional 140,310 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after acquiring an additional 35,029 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of Workiva by 13.5% in the third 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 period. TimesSquare Capital Management LLC increased its position in Workiva by 19.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after purchasing an additional 92,192 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in Workiva during the fourth quarter worth about $59,894,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WK. BMO Capital Markets decreased their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on 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 Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. Robert W. Baird boosted their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Citigroup increased their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.57.

Workiva Stock Down 0.1 %

Shares of WK opened at $85.06 on Wednesday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The company has a market cap of $4.71 billion, a P/E ratio of -92.45 and a beta of 1.09. The firm’s 50 day moving average price is $97.90 and its 200 day moving average price is $91.51.

Insider Activity at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the transaction, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,129 shares of company stock worth $1,718,633. Company insiders own 3.86% of the company’s stock.

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.