Conestoga Capital Advisors LLC Increases Stock Position in Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC lifted its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,165,019 shares of the software maker's stock after purchasing an additional 140,310 shares during the period. Workiva comprises 1.7% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 25th largest holding. Conestoga Capital Advisors LLC owned approximately 2.10% of Workiva worth $127,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WK. V Square Quantitative Management LLC acquired a new position in Workiva in the third quarter valued at $28,000. Quarry LP increased its stake in Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker's stock valued at $33,000 after purchasing an additional 166 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after buying an additional 116 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Workiva in the third quarter valued at $168,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Workiva by 484.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,478 shares of the software maker's stock valued at $181,000 after buying an additional 2,054 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WK shares. Raymond James raised Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Citigroup increased their price objective on Workiva from $116.00 to $128.00 and gave the company a "buy" rating in a report on Monday, December 16th. Robert W. Baird boosted their price target on shares of Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. The Goldman Sachs Group raised their price objective on shares of Workiva from $120.00 to $133.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, BMO Capital Markets boosted their target price on shares of Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Workiva presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.14.

Workiva Stock Down 3.2 %

Shares of WK stock traded down $3.31 on Thursday, reaching $99.87. The company's stock had a trading volume of 377,596 shares, compared to its average volume of 695,417. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83. The company has a market capitalization of $5.53 billion, a P/E ratio of -108.55 and a beta of 1.06. The stock's 50 day simple moving average is $106.15 and its 200-day simple moving average is $89.12.

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.