Stonebridge Capital Advisors LLC Takes $233,000 Position in Workiva Inc. (NYSE:WK)

Stonebridge Capital Advisors LLC acquired a new stake in shares of Workiva Inc. (NYSE:WK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,125 shares of the software maker’s stock, valued at approximately $233,000.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Workiva during the 3rd quarter worth $168,000. World Investment Advisors LLC acquired a new position in Workiva in the third quarter valued at $396,000. Nordea Investment Management AB purchased a new position in Workiva during the fourth quarter worth about $59,894,000. Harbor Capital Advisors Inc. boosted its stake in Workiva by 6.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,060 shares of the software maker’s stock worth $992,000 after buying an additional 537 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Workiva in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WK shares. BMO Capital Markets cut their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. BNP Paribas initiated coverage on shares of Workiva in a report on Tuesday. They issued an “outperform” rating and a $100.00 price target on the stock. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Citigroup lifted their target price on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Stephens started coverage on Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.90.

Insider Activity

In related news, 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 directly 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 legal filing with the SEC, which is accessible through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, 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 90 days. Company insiders own 3.86% of the company’s stock.

Workiva Stock Performance

Shares of NYSE:WK opened at $72.59 on Friday. The business’s 50-day simple moving average is $78.96 and its 200 day simple moving average is $90.87. The company has a market cap of $4.07 billion, a P/E ratio of -78.90 and a beta of 1.02. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83.

Workiva Company 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.