New York State Common Retirement Fund Grows Position in Workiva Inc. (NYSE:WK)

New York State Common Retirement Fund boosted its stake in Workiva Inc. (NYSE:WK) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,684 shares of the software maker’s stock after purchasing an additional 45,334 shares during the period. New York State Common Retirement Fund’s holdings in Workiva were worth $44,946,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WK. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Workiva by 16.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,934 shares of the software maker’s stock valued at $1,007,000 after purchasing an additional 1,389 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Workiva during the 3rd quarter valued at $279,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Workiva by 19.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock worth $109,000 after acquiring an additional 175 shares during the last quarter. Strs Ohio boosted its position in shares of Workiva by 9.4% during the third quarter. Strs Ohio now owns 5,800 shares of the software maker’s stock valued at $587,000 after buying an additional 500 shares during the period. Finally, Advisor Partners II LLC bought a new position in Workiva in the 3rd quarter valued at $349,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

WK has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, February 21st. BMO Capital Markets reduced their price objective on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, Citigroup decreased their price target on Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.63.

Insider Buying and Selling

In other news, EVP Michael D. Hawkins sold 11,439 shares of Workiva stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the sale, the executive vice president now owns 62,453 shares of the company’s stock, valued at $5,846,849.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.71% of the stock is owned by insiders.

Workiva Stock Down 0.3 %

NYSE WK opened at $80.07 on Thursday. Workiva Inc. has a 52 week low of $76.63 and a 52 week high of $116.00. The stock has a market capitalization of $4.38 billion, a PE ratio of -33.78 and a beta of 1.03. The firm has a 50 day moving average of $83.95 and a two-hundred day moving average of $91.62.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. On average, equities research analysts expect that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

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.