Workiva (NYSE:WK) Sees Large Volume Increase – What’s Next?

Workiva Inc. (NYSE:WK) shares saw strong trading volume on Wednesday . 1,092,086 shares were traded during trading, an increase of 139% from the previous session’s volume of 456,318 shares.The stock last traded at $77.99 and had previously closed at $76.06.

Wall Street Analyst Weigh In

WK has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Raymond James raised 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 raised their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their price objective on shares of Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Workiva has an average rating of “Moderate Buy” and an average target price of $118.38.

Workiva Stock Down 2.6 %

The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -73.34 and a beta of 1.02. The company has a 50 day moving average of $88.44 and a 200 day moving average of $92.17.

Insider Buying and Selling at Workiva

In other Workiva news, CFO Jill Klindt sold 5,593 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares in the company, valued at $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert H. Herz sold 1,000 shares of the business’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 value of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock valued at $1,807,333 in the last three months. Corporate insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after buying an additional 116 shares during the last quarter. World Investment Advisors raised its stake in Workiva by 2.7% during the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock valued at $562,000 after acquiring an additional 135 shares in the last quarter. Park Avenue Securities LLC boosted its position in Workiva by 4.5% during the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after acquiring an additional 198 shares during the period. Arizona State Retirement System grew its stake in shares of Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after purchasing an additional 224 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of Workiva during the fourth quarter valued at $25,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.