Quantinno Capital Management LP grew its stake in Workiva Inc. (NYSE:WK – Free Report) by 320.9% in the first quarter, Holdings Channel reports. The fund owned 36,925 shares of the software maker’s stock after purchasing an additional 28,152 shares during the period. Quantinno Capital Management LP’s holdings in Workiva were worth $2,202,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of WK. Millennium Management LLC boosted its position in shares of Workiva by 44.5% during the 1st quarter. Millennium Management LLC now owns 237,746 shares of the software maker’s stock valued at $18,047,000 after acquiring an additional 73,266 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Workiva in the first quarter valued at about $421,000. Prudential Financial Inc. grew its holdings in shares of Workiva by 66.7% in the second quarter. Prudential Financial Inc. now owns 6,259 shares of the software maker’s stock valued at $428,000 after purchasing an additional 2,505 shares during the period. Cerity Partners LLC increased its position in Workiva by 24.8% during the second quarter. Cerity Partners LLC now owns 3,297 shares of the software maker’s stock worth $226,000 after purchasing an additional 656 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Workiva by 0.4% during the second quarter. California Public Employees Retirement System now owns 82,197 shares of the software maker’s stock worth $5,626,000 after purchasing an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Workiva Stock Up 3.3%
NYSE:WK opened at $67.30 on Tuesday. Workiva Inc. has a 52 week low of $43.34 and a 52 week high of $97.10. The stock’s fifty day moving average is $53.01 and its two-hundred day moving average is $57.36. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 82.07 and a beta of 0.46.
Insiders Place Their Bets
In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $49.69, for a total value of $49,690.00. Following the completion of the transaction, the director directly owned 34,802 shares of the company’s stock, valued at $1,729,311.38. The trade was a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.77% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on WK shares. Raymond James Financial reiterated an “outperform” rating and issued a $85.00 target price on shares of Workiva in a report on Wednesday, May 6th. Stephens restated an “overweight” rating and set a $68.00 price target on shares of Workiva in a report on Tuesday, May 26th. UBS Group set a $70.00 price target on shares of Workiva in a research report on Wednesday, August 5th. BTIG Research decreased their price objective on Workiva from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Finally, Citigroup reiterated a “buy” rating on shares of Workiva in a research report on Thursday. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.75.
Get Our Latest Analysis on Workiva
Workiva Profile
Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.
The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.
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