Harvest Fund Management Co. Ltd Makes New Investment in Workiva Inc. (NYSE:WK)

Harvest Fund Management Co. Ltd purchased a new stake in Workiva Inc. (NYSE:WK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,940 shares of the software maker’s stock, valued at approximately $431,000.

A number of other hedge funds have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC boosted its holdings in shares of Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after buying an additional 140,310 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after buying an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Workiva by 13.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock worth $57,629,000 after buying an additional 86,746 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Workiva by 19.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after buying an additional 92,192 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of Workiva in the 4th quarter worth about $59,894,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Price Performance

Shares of NYSE WK opened at $87.28 on Friday. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83. The firm’s 50 day simple moving average is $94.33 and its two-hundred day simple moving average is $91.82. The stock has a market capitalization of $4.90 billion, a P/E ratio of -94.87 and a beta of 1.09.

Insider Buying and Selling at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last ninety days. Insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stephens assumed coverage on Workiva in a research note on Wednesday. They issued an “overweight” rating and a $111.00 price objective on the stock. Robert W. Baird upped their price target on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Citigroup upped their price target on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. Finally, Stifel Nicolaus decreased their price target on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Workiva currently has an average rating of “Moderate Buy” and an average target price of $120.25.

Workiva Company 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.