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

William Blair Investment Management LLC raised its stake in shares of Workiva Inc. (NYSE:WK) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 445,628 shares of the software maker’s stock after purchasing an additional 49,549 shares during the period. William Blair Investment Management LLC owned 0.80% of Workiva worth $48,796,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Workiva by 141.6% during the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after purchasing an additional 5,475 shares during the period. Mutual of America Capital Management LLC grew its holdings in Workiva by 138.8% during the third 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 period. Nordea Investment Management AB bought a new stake in Workiva during the fourth quarter valued at about $59,894,000. GSA Capital Partners LLP bought a new stake in Workiva during the third quarter valued at about $641,000. Finally, Advantage Alpha Capital Partners LP boosted its stake in shares of Workiva by 13.9% in the third quarter. Advantage Alpha Capital Partners LP now owns 87,472 shares of the software maker’s stock worth $6,921,000 after acquiring an additional 10,644 shares during the period. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jill Klindt sold 5,593 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This trade represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 3.86% of the company’s stock.

Workiva Trading Up 1.3 %

NYSE:WK opened at $88.70 on Tuesday. The company has a market capitalization of $4.98 billion, a P/E ratio of -96.41 and a beta of 1.09. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $116.83. The business’s 50-day moving average is $96.03 and its 200 day moving average is $91.73.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WK. Robert W. Baird upped 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. The Goldman Sachs Group upped their price objective on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup upped 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and a consensus target price of $121.57.

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.