The Manufacturers Life Insurance Company grew its stake in shares of Workiva Inc (NYSE:WK) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,681 shares of the software maker’s stock after acquiring an additional 10,640 shares during the period. The Manufacturers Life Insurance Company owned about 0.38% of Workiva worth $3,396,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of Workiva by 1.6% during the second quarter. California State Teachers Retirement System now owns 43,968 shares of the software maker’s stock valued at $838,000 after acquiring an additional 700 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Workiva by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 101,597 shares of the software maker’s stock valued at $2,118,000 after acquiring an additional 5,033 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Workiva during the second quarter valued at approximately $192,000. GSA Capital Partners LLP bought a new stake in shares of Workiva during the third quarter valued at approximately $224,000. Finally, Wells Fargo & Company MN raised its stake in shares of Workiva by 25.8% during the third quarter. Wells Fargo & Company MN now owns 53,198 shares of the software maker’s stock valued at $1,110,000 after acquiring an additional 10,917 shares in the last quarter. 40.30% of the stock is owned by hedge funds and other institutional investors.
Workiva Inc (NYSE:WK) opened at $23.55 on Wednesday. The stock has a market cap of $1,010.00, a P/E ratio of -22.22 and a beta of 0.58. The company has a debt-to-equity ratio of -1.09, a quick ratio of 0.89 and a current ratio of 0.89. Workiva Inc has a 1-year low of $14.85 and a 1-year high of $26.75.
In other Workiva news, major shareholder Jerome M. Behar sold 46,000 shares of Workiva stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.15, for a total value of $1,018,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eugene S. Katz sold 6,000 shares of Workiva stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $22.83, for a total transaction of $136,980.00. Following the completion of the transaction, the director now directly owns 124,836 shares in the company, valued at $2,850,005.88. The disclosure for this sale can be found here. Insiders sold 257,923 shares of company stock worth $6,141,505 over the last ninety days. Corporate insiders own 33.29% of the company’s stock.
WK has been the subject of several research analyst reports. Citigroup downgraded shares of Workiva to a “market perform” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Workiva from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Northland Securities reissued a “buy” rating and set a $27.00 price objective on shares of Workiva in a report on Friday, February 23rd. TheStreet raised shares of Workiva from a “d” rating to a “c-” rating in a report on Wednesday, December 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $28.00 price objective on shares of Workiva in a report on Friday, February 23rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.86.
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Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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