California Public Employees Retirement System Boosts Stock Position in Workiva Inc. (NYSE:WK)

California Public Employees Retirement System boosted its holdings in shares of Workiva Inc. (NYSE:WK) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,859 shares of the software maker’s stock after purchasing an additional 21,361 shares during the period. California Public Employees Retirement System owned about 0.35% of Workiva worth $21,447,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Workiva in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after acquiring an additional 879 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the period. Sanctuary Advisors LLC bought a new position in Workiva in the 3rd quarter worth $168,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Workiva in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WK shares. Robert W. Baird increased their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus lowered their target price on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. BMO Capital Markets lowered their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup boosted their target price on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Workiva Price Performance

WK opened at $69.36 on Friday. The firm has a market cap of $3.89 billion, a PE ratio of -75.39 and a beta of 1.02. The stock has a 50-day moving average price of $89.03 and a 200-day moving average price of $92.22. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83.

Insider Buying and Selling at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of the company’s 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 transaction, the director now directly owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by corporate insiders.

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.