Artisan Partners Limited Partnership Has $64.03 Million Stock Holdings in Workiva Inc. (NYSE:WK)

Artisan Partners Limited Partnership lowered its position in shares of Workiva Inc. (NYSE:WK) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 584,701 shares of the software maker’s stock after selling 33,808 shares during the quarter. Artisan Partners Limited Partnership owned 1.06% of Workiva worth $64,025,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock valued at $635,108,000 after buying an additional 70,820 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after acquiring an additional 140,310 shares in the last quarter. Geode Capital Management LLC boosted its stake in Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after purchasing an additional 35,029 shares during the period. TimesSquare Capital Management LLC increased its holdings in Workiva by 19.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after purchasing an additional 92,192 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of Workiva in the fourth quarter valued at about $59,894,000. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WK shares. The Goldman Sachs Group increased their price objective on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Stephens assumed coverage on shares of Workiva in a report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price objective on the stock. Robert W. Baird increased their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup lifted their price target on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets reduced their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Price Performance

Shares of WK stock opened at $81.03 on Friday. The company has a fifty day moving average price of $92.23 and a two-hundred day moving average price of $92.11. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83. The stock has a market cap of $4.55 billion, a P/E ratio of -88.07 and a beta of 1.09.

Insider Activity

In related news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by company insiders.

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.