King Luther Capital Management Corp Acquires 3,780 Shares of Workiva Inc. (NYSE:WK)

King Luther Capital Management Corp increased its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,360 shares of the software maker's stock after purchasing an additional 3,780 shares during the period. King Luther Capital Management Corp owned 0.13% of Workiva worth $7,704,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Versor Investments LP bought a new stake in Workiva during the 3rd quarter valued at $1,217,000. SG Americas Securities LLC grew its stake in Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock worth $1,023,000 after buying an additional 5,475 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Workiva by 138.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker's stock worth $4,277,000 after buying an additional 31,421 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Workiva in the fourth quarter valued at about $59,894,000. Finally, GSA Capital Partners LLP acquired a new stake in Workiva in the third quarter worth about $641,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now directly owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,129 shares of company stock valued at $1,718,633 over the last ninety days. Company insiders own 3.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WK. Stifel Nicolaus cut their price objective on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Raymond James upgraded shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. Robert W. Baird lifted 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. Citigroup upped their target price on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets lowered their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $121.57.

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Workiva Stock Performance

NYSE WK opened at $85.06 on Wednesday. The firm has a market capitalization of $4.71 billion, a P/E ratio of -92.45 and a beta of 1.09. The stock has a 50-day simple moving average of $97.90 and a two-hundred day simple moving average of $91.51. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

About Workiva

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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