Canada Pension Plan Investment Board Raises Position in Workiva Inc. (NYSE:WK)

Canada Pension Plan Investment Board lifted its stake in Workiva Inc. (NYSE:WK) by 3,338.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,700 shares of the software maker’s stock after purchasing an additional 43,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Workiva were worth $4,895,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Twin Tree Management LP bought a new stake in Workiva in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock worth $97,000 after acquiring an additional 879 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake 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 during the period. Sanctuary Advisors LLC purchased a new position in shares of Workiva during the 3rd quarter worth about $168,000. Finally, Truist Financial Corp bought a new position in Workiva during the 4th quarter valued at about $211,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now directly owns 103,509 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jill Klindt sold 5,593 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now directly owns 119,054 shares of the company’s stock, valued at approximately $10,124,352.16. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on WK shares. Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Stephens assumed coverage on Workiva in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. BNP Paribas assumed coverage on Workiva in a research report on Tuesday. They set an “outperform” rating and a $100.00 target price for the company. Finally, BMO Capital Markets dropped their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and an average price target of $112.90.

Workiva Stock Performance

Shares of WK stock opened at $68.75 on Wednesday. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The firm has a market capitalization of $3.86 billion, a PE ratio of -74.73 and a beta of 1.02. The stock’s 50-day simple moving average is $79.68 and its 200-day simple moving average is $91.05.

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.