Workiva Inc. (NYSE:WK) Position Reduced by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its holdings in Workiva Inc. (NYSE:WK - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 584,701 shares of the software maker's stock after selling 33,808 shares during the period. Artisan Partners Limited Partnership owned about 1.06% of Workiva worth $64,025,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 valued at $635,108,000 after buying an additional 70,820 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Workiva by 13.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock valued at $127,570,000 after acquiring an additional 140,310 shares in the last quarter. Geode Capital Management LLC boosted its stake in Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock valued at $90,597,000 after acquiring an additional 35,029 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Workiva by 19.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock worth $61,316,000 after acquiring an additional 92,192 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in Workiva during the 4th quarter worth $59,894,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WK. BMO Capital Markets cut their target price on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Stephens assumed coverage on Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 target price on the stock. Stifel Nicolaus decreased their target price 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 raised 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, Citigroup lifted their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $118.38.

Workiva Stock Up 0.0 %

NYSE WK traded up $0.03 during trading hours on Tuesday, hitting $75.94. The company had a trading volume of 910,676 shares, compared to its average volume of 453,671. The firm has a market cap of $4.26 billion, a P/E ratio of -82.54 and a beta of 1.09. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The business has a fifty day simple moving average of $90.08 and a 200-day simple moving average of $92.49.

Insider Transactions at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction 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. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,129 shares of company stock worth $1,807,333. Insiders own 3.86% of the company's stock.

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.