Trexquant Investment LP Raises Stake in Workiva Inc. (NYSE:WK)

Trexquant Investment LP lifted its stake in shares of Workiva Inc. (NYSE:WK) by 85.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,428 shares of the software maker’s stock after acquiring an additional 40,329 shares during the period. Trexquant Investment LP owned 0.16% of Workiva worth $9,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Workiva by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after acquiring an additional 70,820 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after purchasing an additional 140,310 shares during the last quarter. Geode Capital Management LLC raised its holdings in Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after buying an additional 35,029 shares during the period. Loomis Sayles & Co. L P raised its holdings in Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock valued at $89,197,000 after buying an additional 86,207 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in Workiva by 19.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock valued at $61,316,000 after buying an additional 92,192 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. Stifel Nicolaus cut their target price on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Citigroup upped their price target on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, Robert W. Baird increased their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Insider Activity

In other Workiva news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the completion of the sale, the chief financial officer now directly owns 119,054 shares of the company’s stock, valued at $10,124,352.16. The trade was a 4.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by company insiders.

Workiva Trading Up 1.5 %

NYSE:WK opened at $77.18 on Thursday. The stock has a fifty day moving average price of $89.65 and a 200 day moving average price of $92.38. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $116.83. The firm has a market cap of $4.33 billion, a PE ratio of -83.89 and a beta of 1.09.

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.