Geode Capital Management LLC Increases Position in Workiva Inc. (NYSE:WK)

Geode Capital Management LLC raised its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,144,826 shares of the software maker's stock after purchasing an additional 35,029 shares during the period. Geode Capital Management LLC owned 2.07% of Workiva worth $90,597,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Workiva by 2.0% in the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker's stock worth $498,000 after purchasing an additional 137 shares in the last quarter. Quarry LP grew its stake in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker's stock valued at $33,000 after buying an additional 166 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Workiva by 8.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker's stock valued at $171,000 after buying an additional 179 shares in the last quarter. Xponance Inc. raised its holdings in Workiva by 6.0% during the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker's stock valued at $233,000 after acquiring an additional 182 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Workiva by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker's stock worth $358,000 after acquiring an additional 183 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WK has been the subject of several recent research reports. Robert W. Baird lifted their price target on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. BMO Capital Markets lifted their target price on Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Stifel Nicolaus upgraded Workiva from a "hold" rating to a "buy" rating and upped their price target for the company from $102.00 to $130.00 in a research report on Wednesday. Finally, 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.40.

Workiva Stock Performance

Workiva stock traded up $3.40 during midday trading on Friday, hitting $114.78. 1,149,058 shares of the company's stock were exchanged, compared to its average volume of 386,399. The company has a market cap of $6.36 billion, a P/E ratio of -124.76 and a beta of 1.09. The stock has a 50-day moving average price of $91.81 and a two-hundred day moving average price of $80.86. Workiva Inc. has a 52-week low of $65.47 and a 52-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.