Capstone Investment Advisors LLC Reduces Stock Position in Workiva Inc. (NYSE:WK)

Capstone Investment Advisors LLC decreased its position in Workiva Inc. (NYSE:WK) by 28.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,101 shares of the software maker’s stock after selling 1,240 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Workiva were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers purchased a new stake in shares of Workiva in the 1st quarter worth about $1,629,000. Harbor Capital Advisors Inc. raised its holdings in Workiva by 34.5% in the second quarter. Harbor Capital Advisors Inc. now owns 8,891 shares of the software maker’s stock worth $649,000 after purchasing an additional 2,283 shares in the last quarter. CWM LLC raised its holdings in Workiva by 4.3% in the second quarter. CWM LLC now owns 6,306 shares of the software maker’s stock worth $460,000 after purchasing an additional 259 shares in the last quarter. SG Americas Securities LLC lifted its position in Workiva by 12.2% during the second quarter. SG Americas Securities LLC now owns 16,759 shares of the software maker’s stock valued at $1,223,000 after buying an additional 1,824 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Workiva by 62.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 27,150 shares of the software maker’s stock valued at $1,982,000 after buying an additional 10,443 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Stifel Nicolaus lifted their price objective on Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and an average target price of $103.20.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.86% of the company’s stock.

Workiva Price Performance

Workiva stock opened at $97.25 on Friday. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00. The firm has a 50 day moving average of $84.57 and a 200 day moving average of $78.65.

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.