Verition Fund Management LLC Acquires 14,467 Shares of Workiva Inc. (NYSE:WK)

Verition Fund Management LLC grew its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 241.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,461 shares of the software maker's stock after purchasing an additional 14,467 shares during the period. Verition Fund Management LLC's holdings in Workiva were worth $1,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers acquired a new stake in shares of Workiva in the 1st quarter worth approximately $1,629,000. CWM LLC raised its stake in shares of Workiva by 4.3% during the 2nd quarter. CWM LLC now owns 6,306 shares of the software maker's stock worth $460,000 after buying an additional 259 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Workiva by 12.2% during the 2nd quarter. SG Americas Securities LLC now owns 16,759 shares of the software maker's stock worth $1,223,000 after buying an additional 1,824 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Workiva by 62.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 27,150 shares of the software maker's stock valued at $1,982,000 after acquiring an additional 10,443 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Workiva by 6.5% in the 2nd quarter. Raymond James & Associates now owns 55,170 shares of the software maker's stock valued at $4,027,000 after acquiring an additional 3,356 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares of the company's stock, valued at approximately $3,721,570.20. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.86% of the company's stock.

Workiva Stock Performance

Shares of NYSE:WK traded up $2.06 during trading on Friday, reaching $102.86. 359,281 shares of the stock were exchanged, compared to its average volume of 422,224. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -111.80 and a beta of 1.09. The firm's 50-day moving average price is $86.75 and its 200 day moving average price is $79.17.

Analyst Upgrades and Downgrades

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

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.