King Luther Capital Management Corp Acquires 2,079 Shares of Workiva Inc. (NYSE:WK)

King Luther Capital Management Corp lifted its stake in Workiva Inc. (NYSE:WK) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,580 shares of the software maker’s stock after acquiring an additional 2,079 shares during the period. King Luther Capital Management Corp owned approximately 0.12% of Workiva worth $5,268,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WK. Principal Financial Group Inc. boosted its stake in Workiva by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock worth $498,000 after purchasing an additional 137 shares during the period. Quarry LP boosted its position in shares of Workiva by 57.8% in the second quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after acquiring an additional 166 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Workiva by 8.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock valued at $171,000 after acquiring an additional 179 shares in the last quarter. Xponance Inc. increased its holdings in Workiva by 6.0% during the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock worth $233,000 after acquiring an additional 182 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in Workiva by 3.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock worth $358,000 after purchasing an additional 183 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Northland Securities reduced their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus upped their target price on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.20.

Workiva Price Performance

Shares of Workiva stock opened at $94.53 on Friday. The company’s fifty day simple moving average is $82.16 and its two-hundred day simple moving average is $78.02. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00.

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.