Impax Asset Management Group plc Sells 45,000 Shares of Workiva Inc. (NYSE:WK)

Impax Asset Management Group plc cut its position in shares of Workiva Inc. (NYSE:WK) by 28.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 113,586 shares of the software maker’s stock after selling 45,000 shares during the period. Impax Asset Management Group plc’s holdings in Workiva were worth $12,438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in Workiva by 8.7% in 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. Truist Financial Corp purchased a new position in shares of Workiva in the fourth quarter worth about $211,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Workiva in the 4th quarter valued at about $219,000. Abacus Planning Group Inc. purchased a new stake in Workiva during the 4th quarter valued at about $222,000. Finally, Legato Capital Management LLC bought a new position in Workiva during the 4th quarter worth approximately $226,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Trading Down 0.6 %

NYSE:WK opened at $83.91 on Tuesday. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $116.83. The company has a 50-day moving average price of $103.34 and a 200-day moving average price of $90.79. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -91.21 and a beta of 1.06.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WK. Robert W. Baird boosted their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group upped their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Stifel Nicolaus raised shares of Workiva from a “hold” rating to a “buy” rating and raised their price target for the stock from $102.00 to $130.00 in a report on Wednesday, December 18th. Citigroup upped their price objective on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets increased their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.14.

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.