4,726 Shares in Workiva Inc. (NYSE:WK) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in shares of Workiva Inc. (NYSE:WK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,726 shares of the software maker’s stock, valued at approximately $517,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after purchasing an additional 116 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Workiva by 4.5% in the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock valued at $499,000 after acquiring an additional 198 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Workiva by 1.6% in the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock valued at $1,552,000 after acquiring an additional 224 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Workiva in the 4th quarter valued at about $25,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Workiva by 5.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,296 shares of the software maker’s stock valued at $580,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock worth $1,807,333 in the last ninety days. 3.86% of the stock is owned by insiders.

Workiva Price Performance

WK opened at $87.28 on Friday. The stock’s 50 day simple moving average is $94.33 and its 200 day simple moving average is $91.94. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09.

Wall Street Analyst Weigh In

WK has been the topic of several recent analyst reports. The Goldman Sachs Group raised their price target on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Citigroup raised their price target on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Stephens started coverage on Workiva in a report on Wednesday. They issued an “overweight” rating and a $111.00 price target on the stock. Finally, Raymond James upgraded 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 equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.25.

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.