Cibc World Markets Corp Makes New Investment in Workiva Inc. (NYSE:WK)

Cibc World Markets Corp acquired a new position in Workiva Inc. (NYSE:WK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,726 shares of the software maker’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in shares of Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after purchasing an additional 140,310 shares during the period. Geode Capital Management LLC lifted its stake in shares of Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after purchasing an additional 35,029 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Workiva by 13.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after purchasing an additional 86,746 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Workiva by 19.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock valued at $61,316,000 after purchasing an additional 92,192 shares during the period. Finally, Nordea Investment Management AB purchased a new position in shares of Workiva in the 4th quarter valued at approximately $59,894,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets lowered 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 lowered 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. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, 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 research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.25.

Workiva Price Performance

WK stock opened at $87.28 on Friday. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $116.83. The business has a fifty day moving average price of $94.33 and a 200-day moving average price of $91.94. The stock has a market capitalization of $4.90 billion, a P/E ratio of -94.87 and a beta of 1.09.

Insider Transactions at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction on Friday, March 7th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $88,700.00. Following the sale, the director now owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock worth $1,807,333 over the last quarter. 3.86% of the stock is currently owned by insiders.

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.