Trust Point Inc. Sells 1,841 Shares of Workiva Inc. (NYSE:WK)

Trust Point Inc. lessened its stake in shares of Workiva Inc. (NYSE:WK) by 11.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,248 shares of the software maker’s stock after selling 1,841 shares during the period. Trust Point Inc.’s holdings in Workiva were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Workiva in the third quarter valued at about $28,000. Quarry LP increased its position in Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of Workiva in the fourth quarter valued at approximately $219,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Workiva in the third quarter valued at approximately $168,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WK. Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and boosted their price target for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Citigroup increased their price objective on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a report on Monday, December 16th. BMO Capital Markets increased their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.14.

Workiva Stock Down 1.1 %

Workiva stock opened at $97.16 on Tuesday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The firm’s fifty day moving average price is $105.92 and its 200-day moving average price is $88.74.

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.