Canada Pension Plan Investment Board Boosts Stock Holdings in Workiva Inc. (NYSE:WK)

Canada Pension Plan Investment Board grew its holdings in Workiva Inc. (NYSE:WK - Free Report) by 3,338.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 44,700 shares of the software maker's stock after buying an additional 43,400 shares during the period. Canada Pension Plan Investment Board owned 0.08% of Workiva worth $4,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Workiva by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock worth $635,108,000 after purchasing an additional 70,820 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock worth $127,570,000 after purchasing an additional 140,310 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Workiva by 11.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after purchasing an additional 86,207 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings 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 purchasing an additional 92,192 shares in the last quarter. Finally, Norges Bank purchased a new position in Workiva during the fourth quarter worth about $59,676,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Trading Down 0.3 %

Shares of WK stock traded down $0.23 during trading hours on Monday, hitting $73.39. The company's stock had a trading volume of 391,271 shares, compared to its average volume of 495,946. The business has a fifty day moving average of $78.37 and a 200-day moving average of $90.99. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -79.77 and a beta of 1.02. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83.

Wall Street Analyst Weigh In

WK has been the subject of several analyst reports. Raymond James raised shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a report on Friday, January 3rd. BMO Capital Markets lowered their target price on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. BNP Paribas started coverage on shares of Workiva in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price on the stock. Finally, The Goldman Sachs Group lowered their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $112.90.

Insider Activity

In related news, EVP Michael D. Hawkins sold 10,421 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. 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 ninety days. 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.