Tensile Capital Management LP Sells 113,716 Shares of Workiva Inc. (NYSE:WK)

Tensile Capital Management LP lessened its stake in Workiva Inc. (NYSE:WK - Free Report) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,605 shares of the software maker's stock after selling 113,716 shares during the quarter. Workiva makes up approximately 2.6% of Tensile Capital Management LP's holdings, making the stock its 14th biggest holding. Tensile Capital Management LP owned about 0.55% of Workiva worth $24,100,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in Workiva during the third quarter valued at $18,000,000. Janus Henderson Group PLC increased its position in shares of Workiva by 839.8% during the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker's stock valued at $16,919,000 after purchasing an additional 191,078 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Workiva by 435.5% in the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker's stock valued at $11,503,000 after buying an additional 118,234 shares during the period. Loomis Sayles & Co. L P boosted its stake in Workiva by 13.5% during the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker's stock valued at $57,629,000 after buying an additional 86,746 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Workiva by 345.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 92,451 shares of the software maker's stock worth $7,315,000 after acquiring an additional 71,719 shares during the period. Institutional investors own 92.21% of the company's stock.

Workiva Stock Up 1.6 %

NYSE:WK traded up $1.59 during mid-day trading on Friday, reaching $102.39. 150,727 shares of the company were exchanged, compared to its average volume of 376,392. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $105.00. The company has a fifty day moving average of $86.30 and a 200 day moving average of $79.07.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $3,721,570.20. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Workiva 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.