Workiva Inc. (NYSE:WK) Stock Position Lowered by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,646,325 shares of the software maker's stock after selling 105,934 shares during the quarter. Workiva makes up 2.5% of Riverbridge Partners LLC's investment portfolio, making the stock its 8th biggest holding. Riverbridge Partners LLC owned approximately 2.97% of Workiva worth $180,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new position in shares of Workiva during the fourth quarter worth about $59,894,000. Groupama Asset Managment purchased a new position in shares of Workiva during the third quarter worth about $381,000. Jacobs Levy Equity Management Inc. purchased a new position in Workiva during the 3rd quarter worth approximately $18,000,000. Janus Henderson Group PLC grew its stake in Workiva by 839.8% during the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker's stock worth $16,919,000 after buying an additional 191,078 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Workiva by 435.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker's stock worth $11,503,000 after buying an additional 118,234 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WK. Citigroup raised their target price on shares of Workiva from $116.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. BMO Capital Markets raised their price objective on shares of Workiva from $96.00 to $104.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Robert W. Baird raised their price target on Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Stifel Nicolaus raised Workiva from a "hold" rating to a "buy" rating and raised their price target for the stock from $102.00 to $130.00 in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price target on Workiva from $120.00 to $133.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.14.

Workiva Price Performance

Shares of WK stock traded up $1.09 during trading hours on Thursday, reaching $100.00. 1,990,672 shares of the company's stock were exchanged, compared to its average volume of 791,197. The company's 50 day moving average is $105.09 and its two-hundred day moving average is $87.25. The company has a market cap of $5.54 billion, a P/E ratio of -108.69 and a beta of 1.07. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83.

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.