Arrowstreet Capital Limited Partnership Buys Shares of 468,977 Workiva Inc. (NYSE:WK)

Arrowstreet Capital Limited Partnership acquired a new stake in Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 468,977 shares of the software maker's stock, valued at approximately $51,353,000. Arrowstreet Capital Limited Partnership owned approximately 0.85% of Workiva at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Workiva by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock worth $635,108,000 after purchasing an additional 70,820 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock valued at $127,570,000 after purchasing an additional 140,310 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of 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 purchasing an additional 86,207 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of 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 buying an additional 92,192 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The stock was 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 in the company, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jill Klindt sold 5,593 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the sale, the chief financial officer now owns 119,054 shares of the company's stock, valued at $10,124,352.16. This trade represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on WK. Citigroup lifted 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. BMO Capital Markets reduced their target price on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on shares of Workiva from $132.00 to $118.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Robert W. Baird upped their price target 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Workiva presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.38.

Workiva Price Performance

Workiva stock traded down $1.78 during midday trading on Friday, hitting $67.47. 1,269,937 shares of the company were exchanged, compared to its average volume of 466,863. The company has a market cap of $3.79 billion, a PE ratio of -73.34 and a beta of 1.02. The company's fifty day moving average price is $89.03 and its 200-day moving average price is $92.22. Workiva Inc. has a fifty-two week low of $63.96 and a fifty-two week high of $116.83.

Workiva 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.