California Public Employees Retirement System boosted its stake in Workiva Inc. (NYSE:WK - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,859 shares of the software maker's stock after purchasing an additional 21,361 shares during the quarter. California Public Employees Retirement System owned about 0.35% of Workiva worth $21,447,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of WK. Verition Fund Management LLC increased its holdings in Workiva by 241.4% in the 3rd quarter. Verition Fund Management LLC now owns 20,461 shares of the software maker's stock valued at $1,619,000 after buying an additional 14,467 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Workiva by 238.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,247 shares of the software maker's stock valued at $257,000 after purchasing an additional 2,288 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Workiva by 839.8% in the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker's stock valued at $16,919,000 after purchasing an additional 191,078 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Workiva during the 3rd quarter worth $18,000,000. Finally, Quantinno Capital Management LP bought a new position in shares of Workiva in the third quarter worth about $207,000. Institutional investors and hedge funds own 92.21% of the company's stock.
Workiva Stock Performance
Workiva stock traded down $0.94 during midday trading on Tuesday, hitting $65.04. 126,382 shares of the company's stock were exchanged, compared to its average volume of 733,059. The company has a market cap of $3.65 billion, a P/E ratio of -70.69 and a beta of 1.02. The stock has a 50-day moving average price of $87.80 and a two-hundred day moving average price of $92.29. Workiva Inc. has a 52-week low of $62.43 and a 52-week high of $116.83.
Insider Buying and Selling
In related 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 value of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. Insiders own 3.86% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on WK shares. Robert W. Baird increased their price target on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Truist Financial lowered their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday. Raymond James raised shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. Citigroup raised their target price on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Workiva has a consensus rating of "Moderate Buy" and a consensus target price of $115.78.
Check Out Our Latest Research Report on Workiva
About Workiva
(
Free Report)
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.
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