Intech Investment Management LLC Takes Position in Workiva Inc. (NYSE:WK)

Intech Investment Management LLC bought a new position in shares of Workiva Inc. (NYSE:WK) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,900 shares of the software maker’s stock, valued at approximately $862,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Versor Investments LP purchased a new position in shares of Workiva in the 3rd quarter valued at about $1,217,000. TimesSquare Capital Management LLC lifted its stake in Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after acquiring an additional 19,095 shares during the last quarter. Cetera Investment Advisers acquired a new position in Workiva during the 1st quarter worth approximately $1,629,000. Mutual of America Capital Management LLC increased its position in shares of Workiva by 138.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after purchasing an additional 31,421 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Workiva by 23.8% in the 1st quarter. Comerica Bank now owns 87,999 shares of the software maker’s stock valued at $7,462,000 after purchasing an additional 16,943 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Northland Securities dropped their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets raised their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price target on Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price objective on shares of Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.20.

Insider Activity

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.86% of the company’s stock.

Workiva Stock Down 1.9 %

WK opened at $96.85 on Friday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of -105.27 and a beta of 1.05. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $105.00. The business’s 50 day moving average is $83.86 and its two-hundred day moving average is $78.43.

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.