Skandinaviska Enskilda Banken AB publ Invests $286,000 in Workiva Inc. (NYSE:WK)

Skandinaviska Enskilda Banken AB publ acquired a new stake in Workiva Inc. (NYSE:WK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,600 shares of the software maker’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its position in Workiva by 2.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,656 shares of the software maker’s stock worth $1,951,000 after acquiring an additional 664 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Workiva during the third quarter valued at approximately $641,000. Cornercap Investment Counsel Inc. bought a new position in Workiva in the third quarter valued at approximately $268,000. Mutual of America Capital Management LLC increased 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 worth $4,277,000 after purchasing an additional 31,421 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of Workiva by 441.6% during the 3rd quarter. Quest Partners LLC now owns 14,633 shares of the software maker’s stock worth $1,158,000 after purchasing an additional 11,931 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Performance

Shares of WK opened at $88.70 on Tuesday. The firm has a market cap of $4.98 billion, a P/E ratio of -96.41 and a beta of 1.09. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $116.83. The firm’s 50-day simple moving average is $96.03 and its 200 day simple moving average is $91.73.

Insider Transactions at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 over the last quarter. Company insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WK. Stifel Nicolaus cut their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets reduced their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and an average target price of $121.57.

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.