Workiva Inc. (NYSE:WK) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its holdings in Workiva Inc. (NYSE:WK) by 14.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,877 shares of the software maker’s stock after selling 11,100 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.12% of Workiva worth $6,994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Workiva during the fourth quarter worth about $59,676,000. Nordea Investment Management AB acquired a new stake in shares of Workiva in the 4th quarter valued at about $59,894,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Workiva in the 4th quarter valued at about $51,353,000. Conestoga Capital Advisors LLC grew its stake in Workiva by 13.7% during the 4th 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 last quarter. Finally, TimesSquare Capital Management LLC increased its position in Workiva by 19.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after buying an additional 92,192 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Trading Up 4.3 %

WK stock opened at $68.75 on Wednesday. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The company has a market cap of $3.86 billion, a P/E ratio of -74.73 and a beta of 1.02. The company’s 50-day moving average price is $79.68 and its 200 day moving average price is $91.05.

Insider Activity

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction 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 completion of the transaction, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. 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 the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,129 shares of company stock worth $1,807,333. Company insiders own 3.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WK. BMO Capital Markets decreased their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Stephens assumed coverage on shares of Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target for the company. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Friday, January 3rd. Stifel Nicolaus reduced their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial lowered their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.90.

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.