William Blair Investment Management LLC Acquires 49,549 Shares of Workiva Inc. (NYSE:WK)

William Blair Investment Management LLC grew its holdings in shares of Workiva Inc. (NYSE:WK) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 445,628 shares of the software maker’s stock after buying an additional 49,549 shares during the quarter. William Blair Investment Management LLC’s holdings in Workiva were worth $48,796,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Twin Tree Management LP bought a new position in shares of Workiva during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after buying an additional 116 shares during the last quarter. Truist Financial Corp bought a new position in shares of Workiva during the fourth quarter valued at approximately $211,000. Finally, Heartwood Wealth Advisors LLC bought a new position in shares of Workiva during the fourth quarter valued at approximately $219,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the completion of the sale, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by corporate insiders.

Workiva Trading Up 1.3 %

Shares of NYSE WK opened at $88.70 on Tuesday. The stock has a market capitalization of $4.98 billion, a PE ratio of -96.41 and a beta of 1.09. The stock’s fifty day simple moving average is $96.03 and its two-hundred day simple moving average is $91.73. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83.

Analysts Set New Price Targets

WK has been the topic of several research analyst reports. Robert W. Baird increased their price objective on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Citigroup increased their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating 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 objective on the stock in a research note on Friday, January 3rd. Stifel Nicolaus dropped their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.57.

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.