Alliancebernstein L.P. Has $6.69 Million Stake in Workiva Inc. (NYSE:WK)

Alliancebernstein L.P. cut its holdings in Workiva Inc. (NYSE:WK - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,068 shares of the software maker's stock after selling 16,121 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of Workiva worth $6,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock worth $635,108,000 after buying an additional 70,820 shares during the period. Conestoga Capital Advisors LLC increased its position 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 grew its holdings in Workiva by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock valued at $90,597,000 after purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Workiva by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after acquiring an additional 86,207 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in Workiva by 19.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock valued at $61,316,000 after purchasing an additional 92,192 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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Workiva Trading Down 3.8 %

Shares of WK traded down $2.66 on Wednesday, reaching $66.76. 332,003 shares of the company's stock were exchanged, compared to its average volume of 759,630. The business has a 50 day moving average price of $82.38 and a two-hundred day moving average price of $91.42. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a market capitalization of $3.75 billion, a P/E ratio of -72.57 and a beta of 1.02.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WK shares. Stephens started coverage on shares of Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective on the stock. BMO Capital Markets cut their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a 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 on the stock in a research report on Friday, January 3rd. Truist Financial reduced their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Stifel Nicolaus reduced their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Workiva currently has a consensus rating of "Moderate Buy" and an average target price of $115.78.

Insiders Place Their Bets

In related news, CAO Brandon Ziegler sold 4,115 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 of the company's stock, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,129 shares of company stock valued at $1,807,333. Company 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.