Nuveen Asset Management LLC Purchases 1,909 Shares of Workiva Inc. (NYSE:WK)

Nuveen Asset Management LLC grew its stake in Workiva Inc. (NYSE:WK) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 588,428 shares of the software maker’s stock after purchasing an additional 1,909 shares during the quarter. Nuveen Asset Management LLC’s holdings in Workiva were worth $64,433,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WK. Park Avenue Securities LLC grew its stake in Workiva by 4.5% in 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 in the last quarter. Nisa Investment Advisors LLC grew its stake in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after acquiring an additional 116 shares in the last quarter. SG Americas Securities LLC grew its stake in Workiva by 141.6% in the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock worth $1,023,000 after acquiring an additional 5,475 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after acquiring an additional 140,310 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Workiva in the 4th quarter worth about $5,210,000. 92.21% of the stock is currently owned by institutional investors.

Workiva Stock Down 0.4%

NYSE:WK opened at $71.49 on Monday. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The firm has a 50 day moving average of $73.92 and a 200 day moving average of $90.05. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -77.70 and a beta of 0.98.

Workiva (NYSE:WK) last posted its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to analysts’ expectations of $204.24 million. During the same period in the previous year, the company earned $0.22 EPS. The company’s revenue was up 17.4% on a year-over-year basis. As a group, analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

Insider Activity at Workiva

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 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 sold 21,129 shares of company stock valued at $1,807,333 over the last 90 days. Insiders own 3.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WK. The Goldman Sachs Group lowered their price target on shares of Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Citigroup upped their price target 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. BNP Paribas began coverage on shares of Workiva in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

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.