Connor Clark & Lunn Investment Management Ltd. Grows Position in Workiva Inc. (NYSE:WK)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Workiva Inc. (NYSE:WK - Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,335 shares of the software maker's stock after buying an additional 14,884 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Workiva worth $11,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WK. State of New Jersey Common Pension Fund D boosted its stake in Workiva by 2.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,656 shares of the software maker's stock worth $1,951,000 after purchasing an additional 664 shares in the last quarter. Entropy Technologies LP purchased a new position in Workiva in the third quarter worth about $398,000. GSA Capital Partners LLP bought a new position in shares of Workiva in the third quarter worth approximately $641,000. Impax Asset Management Group plc grew its holdings in shares of Workiva by 16.5% during the third quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker's stock valued at $12,547,000 after buying an additional 22,500 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Workiva during the third quarter valued at approximately $268,000. Institutional investors own 92.21% of the company's stock.

Workiva Stock Performance

Shares of Workiva stock traded up $1.81 on Wednesday, hitting $89.40. 302,823 shares of the company's stock were exchanged, compared to its average volume of 421,182. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83. The company has a 50-day simple moving average of $95.59 and a 200-day simple moving average of $91.80. The stock has a market capitalization of $5.02 billion, a PE ratio of -97.17 and a beta of 1.09.

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Insider Activity at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction 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 of the company's stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. 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. Corporate insiders own 3.86% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stephens began coverage on Workiva in a research report on Wednesday. They issued an "overweight" rating and a $111.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. BMO Capital Markets reduced their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price objective on shares of Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Workiva currently has an average rating of "Moderate Buy" and a consensus price target of $120.25.

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.