Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Workiva Inc. (NYSE:WK)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Workiva Inc. (NYSE:WK) by 97.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,683 shares of the software maker’s stock after selling 447,873 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workiva were worth $1,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its holdings in Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after purchasing an additional 116 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after purchasing an additional 198 shares during the last quarter. Arizona State Retirement System raised its position in Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 224 shares during the period. PNC Financial Services Group Inc. raised its position in Workiva by 5.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,296 shares of the software maker’s stock worth $580,000 after acquiring an additional 267 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its position in Workiva by 1.4% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 27,170 shares of the software maker’s stock worth $2,975,000 after acquiring an additional 383 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,129 shares of company stock worth $1,807,333. Insiders own 3.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Citigroup increased their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. Finally, 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 report on Friday, December 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Workiva currently has an average rating of “Moderate Buy” and an average price target of $121.57.

Workiva Price Performance

Shares of WK stock opened at $87.46 on Wednesday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of -95.07 and a beta of 1.09. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83. The company’s fifty day moving average price is $95.59 and its 200-day moving average price is $91.80.

Workiva Company 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.