Capital Wealth Planning LLC Takes $328,000 Position in Workiva Inc. (NYSE:WK)

Capital Wealth Planning LLC bought a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the software maker's stock, valued at approximately $328,000.

Several other hedge funds have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its holdings in Workiva by 31.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 70,940 shares of the software maker's stock worth $7,768,000 after purchasing an additional 16,881 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Workiva by 5.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 16,999 shares of the software maker's stock worth $1,861,000 after buying an additional 890 shares during the period. Abacus Planning Group Inc. bought a new position in shares of Workiva during the fourth quarter worth about $222,000. TimesSquare Capital Management LLC raised its position in Workiva by 19.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock valued at $61,316,000 after buying an additional 92,192 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in Workiva in the 4th quarter valued at approximately $237,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Citigroup raised their target price on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, BMO Capital Markets lowered 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Workiva has a consensus rating of "Moderate Buy" and a consensus target price of $121.57.

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Workiva Trading Up 2.2 %

Shares of Workiva stock traded up $1.90 during trading on Wednesday, hitting $89.40. 675,305 shares of the stock were exchanged, compared to its average volume of 414,505. The company has a fifty day moving average price of $100.38 and a 200-day moving average price of $91.24. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of -97.17 and a beta of 1.09. Workiva Inc. has a 1-year low of $65.47 and a 1-year 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.