abrdn plc Reduces Holdings in Workiva Inc. (NYSE:WK)

abrdn plc cut its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 228,980 shares of the software maker's stock after selling 32,777 shares during the quarter. abrdn plc owned 0.41% of Workiva worth $25,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares during the period. Park Avenue Securities LLC raised its position in Workiva by 4.5% during the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock valued at $499,000 after purchasing an additional 198 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Workiva by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 17,868 shares of the software maker's stock worth $1,304,000 after buying an additional 259 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Workiva in the 3rd quarter worth approximately $28,000. Finally, Cetera Investment Advisers increased its stake in shares of Workiva by 2.3% during the second quarter. Cetera Investment Advisers now owns 19,660 shares of the software maker's stock valued at $1,435,000 after buying an additional 445 shares during the period. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WK. Citigroup boosted 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. BMO Capital Markets lifted their price objective on Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Stifel Nicolaus upgraded Workiva from a "hold" rating to a "buy" rating and raised their target price for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $122.14.

Workiva Trading Down 2.3 %

WK opened at $96.64 on Tuesday. The company's 50 day moving average is $106.15 and its 200 day moving average is $89.69. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -105.05 and a beta of 1.06. Workiva Inc. has a 12-month low of $65.47 and a 12-month 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.