Jacobs Levy Equity Management Inc. Makes New Investment in Workiva Inc. (NYSE:WK)

Jacobs Levy Equity Management Inc. purchased a new position in Workiva Inc. (NYSE:WK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 227,498 shares of the software maker's stock, valued at approximately $18,000,000. Jacobs Levy Equity Management Inc. owned approximately 0.41% of Workiva as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Workiva in the third quarter worth about $28,000. Quarry LP increased its holdings in shares of Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after buying an additional 166 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Workiva during the second quarter worth approximately $62,000. Headlands Technologies LLC increased its holdings in shares of Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker's stock worth $128,000 after buying an additional 1,577 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Workiva by 8.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker's stock worth $171,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Workiva Trading Down 0.6 %

NYSE WK traded down $0.63 during trading on Thursday, reaching $100.80. The company's stock had a trading volume of 485,713 shares, compared to its average volume of 377,472. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $105.00. The firm has a 50 day moving average price of $85.86 and a 200 day moving average price of $78.92. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -109.10 and a beta of 1.09.

Insider Activity

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares of the company's stock, valued at $3,721,570.20. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.86% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on WK. Robert W. Baird increased their price target on shares of Workiva from $94.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their price target on shares of Workiva from $85.00 to $102.00 and gave the company a "hold" rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets raised their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Workiva presently has a consensus rating of "Moderate Buy" and an average target price of $103.20.

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.