Impax Asset Management Group plc Lowers Position in Workiva Inc. (NYSE:WK)

Impax Asset Management Group plc cut its stake in shares of Workiva Inc. (NYSE:WK) by 28.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,586 shares of the software maker’s stock after selling 45,000 shares during the period. Impax Asset Management Group plc owned about 0.21% of Workiva worth $12,438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WK. Versor Investments LP bought a new position in Workiva during the third quarter valued at about $1,217,000. SG Americas Securities LLC raised its position in Workiva by 141.6% in the fourth 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 during the period. TimesSquare Capital Management LLC boosted its stake in Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after acquiring an additional 19,095 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Workiva by 138.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after acquiring an additional 31,421 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in shares of Workiva during the 4th quarter worth approximately $59,894,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on WK. The Goldman Sachs Group boosted their target price on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird boosted their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and increased their target price for the stock from $102.00 to $130.00 in a research report on Wednesday, December 18th. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. Finally, Citigroup upped their price target on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.14.

Workiva Trading Down 0.6 %

Shares of NYSE:WK opened at $83.91 on Tuesday. The company has a 50 day moving average of $103.34 and a 200 day moving average of $90.79. The stock has a market cap of $4.65 billion, a P/E ratio of -91.21 and a beta of 1.06. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $116.83.

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.