California Public Employees Retirement System Grows Stock Holdings in Workiva Inc. (NYSE:WK)

California Public Employees Retirement System increased its stake in shares of Workiva Inc. (NYSE:WKGet Rating) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 94,466 shares of the software maker’s stock after buying an additional 445 shares during the period. California Public Employees Retirement System’s holdings in Workiva were worth $6,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WK. Cullen Frost Bankers Inc. purchased a new position in shares of Workiva during the first quarter valued at approximately $25,000. Benjamin Edwards Inc. bought a new stake in Workiva during the first quarter valued at approximately $39,000. First Horizon Advisors Inc. grew its position in Workiva by 350.7% during the second quarter. First Horizon Advisors Inc. now owns 658 shares of the software maker’s stock valued at $43,000 after buying an additional 512 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Workiva by 7,560.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 383 shares of the software maker’s stock valued at $46,000 after buying an additional 378 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new stake in Workiva during the second quarter valued at approximately $53,000. 84.56% of the stock is owned by hedge funds and other institutional investors.

Workiva Stock Performance

WK opened at $77.23 on Friday. The firm has a market cap of $4.06 billion, a P/E ratio of -44.38 and a beta of 1.19. Workiva Inc. has a 1-year low of $59.43 and a 1-year high of $144.85. The company has a 50 day simple moving average of $73.36 and a two-hundred day simple moving average of $70.19. The company has a debt-to-equity ratio of 45.13, a current ratio of 1.51 and a quick ratio of 1.51.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 5,505 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $66.72, for a total value of $367,293.60. Following the completion of the transaction, the executive vice president now directly owns 58,745 shares in the company, valued at $3,919,466.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

WK has been the subject of several recent research reports. Citigroup cut their target price on shares of Workiva from $85.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Truist Financial cut their target price on shares of Workiva from $90.00 to $80.00 in a research report on Thursday, November 3rd. The Goldman Sachs Group initiated coverage on shares of Workiva in a research report on Friday, October 21st. They set a “buy” rating and a $101.00 target price for the company. BMO Capital Markets cut their target price on shares of Workiva from $82.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Finally, StockNews.com started coverage on shares of Workiva in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.17.

Workiva Company Profile

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Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.

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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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