Trexquant Investment LP Boosts Stock Holdings in Workiva Inc. (NYSE:WK)

Trexquant Investment LP boosted its position in Workiva Inc. (NYSE:WK) by 85.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,428 shares of the software maker’s stock after purchasing an additional 40,329 shares during the period. Trexquant Investment LP’s holdings in Workiva were worth $9,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after purchasing an additional 116 shares during the period. Park Avenue Securities LLC increased its holdings in Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock valued at $499,000 after buying an additional 198 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 224 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Workiva in the 4th quarter worth approximately $25,000. Finally, PNC Financial Services Group Inc. increased its stake in Workiva by 5.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,296 shares of the software maker’s stock valued at $580,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

WK has been the topic of a number of research analyst reports. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research report on Friday, January 3rd. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus cut their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup increased their price target on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, Stephens began coverage on shares of Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Workiva has an average rating of “Moderate Buy” and an average price target of $118.38.

Insiders Place Their Bets

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the transaction, the chief financial officer now directly owns 119,054 shares in the company, valued at $10,124,352.16. This represents a 4.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert H. Herz sold 1,000 shares of the business’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 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. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,129 shares of company stock valued at $1,807,333. Company insiders own 3.86% of the company’s stock.

Workiva Price Performance

NYSE:WK opened at $77.18 on Thursday. The firm has a market cap of $4.33 billion, a PE ratio of -83.89 and a beta of 1.09. The firm has a 50 day simple moving average of $89.65 and a 200-day simple moving average of $92.38. Workiva Inc. has a 1-year low of $65.47 and a 1-year 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.