Nordea Investment Management AB Buys New Position in Workiva Inc. (NYSE:WK)

Nordea Investment Management AB acquired a new position in Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 543,753 shares of the software maker's stock, valued at approximately $59,894,000. Nordea Investment Management AB owned 0.98% of Workiva at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Workiva in the 3rd quarter worth approximately $28,000. Quarry LP raised its stake in Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after acquiring an additional 166 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Workiva during the second quarter valued at $62,000. Headlands Technologies LLC boosted its stake in shares of Workiva by 896.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker's stock valued at $128,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Workiva in the 3rd quarter worth about $168,000. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on WK. Stifel Nicolaus raised shares of Workiva from a "hold" rating to a "buy" rating and lifted their price target for the company from $102.00 to $130.00 in a report on Wednesday, December 18th. Robert W. Baird lifted their target price on shares of Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. Citigroup raised their price objective on shares of Workiva from $116.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, BMO Capital Markets upped their price target on Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Workiva presently has an average rating of "Moderate Buy" and a consensus target price of $120.33.

Workiva Price Performance

Shares of NYSE WK traded up $1.27 during midday trading on Wednesday, reaching $110.89. 511,140 shares of the stock were exchanged, compared to its average volume of 464,908. The business has a 50-day simple moving average of $100.56 and a two-hundred day simple moving average of $84.56. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -120.53 and a beta of 1.07. Workiva Inc. has a 12 month low of $65.47 and a 12 month 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.