Madison Asset Management LLC Sells 10,942 Shares of Workiva Inc. $WK

Madison Asset Management LLC lowered its position in Workiva Inc. (NYSE:WK) by 17.2% in the third quarter, HoldingsChannel.com reports. The fund owned 52,797 shares of the software maker’s stock after selling 10,942 shares during the quarter. Madison Asset Management LLC’s holdings in Workiva were worth $4,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WK. Private Wealth Asset Management LLC boosted its stake in Workiva by 1,731.7% in the third quarter. Private Wealth Asset Management LLC now owns 75,100 shares of the software maker’s stock worth $6,465,000 after purchasing an additional 71,000 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Workiva by 50.7% in the third quarter. Nordea Investment Management AB now owns 1,368,401 shares of the software maker’s stock valued at $115,589,000 after buying an additional 460,540 shares during the last quarter. Ranger Investment Management L.P. lifted its position in Workiva by 39.5% during the 3rd quarter. Ranger Investment Management L.P. now owns 312,045 shares of the software maker’s stock worth $26,861,000 after buying an additional 88,425 shares in the last quarter. Nicholas Company Inc. grew its holdings in Workiva by 9.3% during the 2nd quarter. Nicholas Company Inc. now owns 80,881 shares of the software maker’s stock worth $5,536,000 after acquiring an additional 6,850 shares during the last quarter. Finally, Pembroke Management LTD bought a new stake in Workiva during the 3rd quarter worth about $36,185,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Workiva in a research report on Wednesday, January 21st. Stephens boosted their target price on Workiva from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Stifel Nicolaus set a $98.00 price objective on Workiva in a research report on Thursday, November 6th. Truist Financial upped their target price on shares of Workiva from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of Workiva in a research note on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.92.

Workiva Trading Down 7.1%

Workiva stock opened at $65.01 on Thursday. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $97.10. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -77.39 and a beta of 0.62. The stock’s 50 day moving average is $83.67 and its 200-day moving average is $83.46.

About Workiva

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.