Workiva Inc. (NYSE:WK) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its position in shares of Workiva Inc. (NYSE:WK) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,117 shares of the software maker’s stock after selling 15,214 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.07% of Workiva worth $4,230,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Workiva by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after purchasing an additional 70,820 shares during the period. Conestoga Capital Advisors LLC lifted its position in Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after buying an additional 140,310 shares during the period. Geode Capital Management LLC boosted its stake in Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after buying an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock valued at $89,197,000 after buying an additional 86,207 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in shares of Workiva by 19.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock valued at $61,316,000 after acquiring an additional 92,192 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 over the last quarter. Company insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WK shares. Citigroup raised their target price 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. The Goldman Sachs Group decreased their price target on shares of Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Stephens began coverage on Workiva in a report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 target price on the stock. Finally, Robert W. Baird upped their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Workiva Trading Up 0.0 %

Shares of NYSE WK opened at $75.94 on Wednesday. The stock has a fifty day moving average price of $90.08 and a 200 day moving average price of $92.49. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83. The company has a market cap of $4.26 billion, a P/E ratio of -82.54 and a beta of 1.09.

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.