Madison Investment Advisors LLC Purchases New Shares in Workiva Inc. (NYSE:WK)

Madison Investment Advisors LLC bought a new stake in shares of Workiva Inc. (NYSE:WK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 41,787 shares of the software maker's stock, valued at approximately $4,576,000. Madison Investment Advisors LLC owned about 0.08% of Workiva at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WK. EverSource Wealth Advisors LLC raised its holdings in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock valued at $97,000 after purchasing an additional 879 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares during the period. Truist Financial Corp purchased a new stake in Workiva during the 4th quarter valued at $211,000. Heartwood Wealth Advisors LLC bought a new position in shares of Workiva during the 4th quarter valued at $219,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Workiva in the 4th quarter worth $221,000. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WK. The Goldman Sachs Group increased their target price on Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Citigroup increased their price objective 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. Stifel Nicolaus cut 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. Finally, 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 research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $121.57.

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Workiva Trading Down 1.2 %

Workiva stock traded down $1.11 during mid-day trading on Tuesday, hitting $87.46. The stock had a trading volume of 519,747 shares, compared to its average volume of 421,189. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83. The firm has a market capitalization of $4.91 billion, a P/E ratio of -95.07 and a beta of 1.09. The firm's 50 day moving average is $96.03 and its 200 day moving average is $91.73.

Insider Activity

In other news, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction that occurred 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 sale, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last ninety days. Corporate insiders own 3.86% of the company's stock.

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.