CIBC Private Wealth Group LLC Sells 15,214 Shares of Workiva Inc. (NYSE:WK)

CIBC Private Wealth Group LLC decreased its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,117 shares of the software maker's stock after selling 15,214 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.07% of Workiva worth $4,230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WK. Norges Bank bought a new position in shares of Workiva during the 4th quarter valued at about $59,676,000. Nordea Investment Management AB acquired a new stake in Workiva during the 4th quarter worth approximately $59,894,000. Groupama Asset Managment bought a new position in Workiva in the third quarter valued at approximately $381,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Workiva in the fourth quarter valued at approximately $51,353,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Workiva during the third quarter worth $18,000,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Stephens initiated coverage on Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target on the stock. Stifel Nicolaus decreased their price objective on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Robert W. Baird upped their price target on Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Raymond James raised shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.38.

Workiva Price Performance

WK stock traded down $1.78 during trading hours on Friday, reaching $67.47. The stock had a trading volume of 1,269,937 shares, compared to its average volume of 467,764. The stock has a 50-day simple moving average of $88.44 and a 200 day simple moving average of $92.38. Workiva Inc. has a fifty-two week low of $63.98 and a fifty-two week high of $116.83. The stock has a market capitalization of $3.79 billion, a PE ratio of -73.34 and a beta of 1.02.

Insider Activity at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the transaction, the chief financial officer now directly owns 119,054 shares of the company's stock, valued at $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, 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. In the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. Insiders own 3.86% of the company's stock.

Workiva Company 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.