Artisan Partners Limited Partnership Sells 33,808 Shares of Workiva Inc. (NYSE:WK)

Artisan Partners Limited Partnership decreased its position in shares of Workiva Inc. (NYSE:WK) by 5.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 584,701 shares of the software maker’s stock after selling 33,808 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Workiva were worth $64,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Workiva in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its holdings in Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after purchasing an additional 879 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Workiva by 8.7% during the 4th 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 in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Workiva during the third quarter worth approximately $168,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Workiva in the third quarter valued at approximately $207,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stephens assumed coverage on Workiva in a research report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target on the stock. Raymond James upgraded 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. BMO Capital Markets cut their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird raised their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group upped their price target on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Insider Buying and Selling at Workiva

In other 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 value 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 represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last quarter. Corporate insiders own 3.86% of the company’s stock.

Workiva Trading Down 3.2 %

WK opened at $81.03 on Friday. The company has a market cap of $4.55 billion, a P/E ratio of -88.07 and a beta of 1.09. The company’s 50 day moving average is $92.23 and its 200-day moving average is $92.11. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $116.83.

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.