Workiva Inc (WK) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Workiva Inc (NYSE:WK) by 21.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,078 shares of the software maker’s stock after purchasing an additional 22,788 shares during the quarter. Bank of New York Mellon Corp owned 0.29% of Workiva worth $5,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in Workiva by 18.8% during the second quarter. BlackRock Inc. now owns 1,782,965 shares of the software maker’s stock valued at $43,505,000 after purchasing an additional 282,663 shares in the last quarter. Bank of America Corp DE raised its position in Workiva by 62.5% during the second quarter. Bank of America Corp DE now owns 186,568 shares of the software maker’s stock valued at $4,553,000 after purchasing an additional 71,777 shares in the last quarter. Northern Trust Corp raised its position in Workiva by 7.5% during the second quarter. Northern Trust Corp now owns 419,478 shares of the software maker’s stock valued at $10,234,000 after purchasing an additional 29,208 shares in the last quarter. First Hawaiian Bank purchased a new stake in Workiva during the third quarter valued at about $260,000. Finally, Highwater Wealth Management LLC raised its position in Workiva by 6,570.3% during the third quarter. Highwater Wealth Management LLC now owns 761,415 shares of the software maker’s stock valued at $30,076,000 after purchasing an additional 750,000 shares in the last quarter. Institutional investors and hedge funds own 43.86% of the company’s stock.

In other news, CEO Martin J. Vanderploeg sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $34.62, for a total transaction of $865,500.00. Following the transaction, the chief executive officer now directly owns 260,077 shares of the company’s stock, valued at $9,003,865.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael M. Crow sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $36.21, for a total value of $181,050.00. Following the transaction, the director now directly owns 30,995 shares in the company, valued at $1,122,328.95. The disclosure for this sale can be found here. Insiders have sold 192,798 shares of company stock worth $7,085,673 over the last ninety days. Insiders own 29.94% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Workiva from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Morgan Stanley lowered their price target on Workiva from $28.00 to $26.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.67.

Shares of NYSE:WK opened at $43.55 on Thursday. Workiva Inc has a 12-month low of $20.50 and a 12-month high of $44.58. The stock has a market cap of $1.87 billion, a PE ratio of -40.70 and a beta of 1.08.

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Workiva Company Profile

Workiva Inc operates as a cloud provider of connected data, reporting, and compliance solutions for enterprises and government agencies worldwide. The company provides Wdesk, a cloud platform that modernizes how customers work with business data at thousands of organizations; and Wdata, which centralizes financial and nonfinancial data from diverse sources into a cloud solution.

Further Reading: What is a Derivative?

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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