Foster Group Inc. Reduces Stake in Workiva Inc. (NYSE:WK)

Foster Group Inc. cut its holdings in shares of Workiva Inc. (NYSE:WK) by 24.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,038 shares of the software maker’s stock after selling 976 shares during the period. Foster Group Inc.’s holdings in Workiva were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WK. Versor Investments LP purchased a new position in shares of Workiva in the 3rd quarter valued at approximately $1,217,000. TimesSquare Capital Management LLC lifted its position in Workiva by 4.3% during the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after buying an additional 19,095 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Workiva by 138.8% during 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 buying an additional 31,421 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Workiva in the 4th quarter worth about $59,894,000. Finally, GSA Capital Partners LLP bought a new position in shares of Workiva in the 3rd quarter worth about $641,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

WK opened at $104.70 on Wednesday. The company’s 50-day simple moving average is $105.64 and its two-hundred day simple moving average is $88.05. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WK shares. Citigroup upped their price objective on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Robert W. Baird raised their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. 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. Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and raised their price target for the company from $102.00 to $130.00 in a report on Wednesday, December 18th. Finally, 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 note on Friday, January 3rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.14.

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.