Thrivent Financial for Lutherans Reduces Holdings in Workiva Inc. (NYSE:WK)

Thrivent Financial for Lutherans lowered its position in Workiva Inc. (NYSE:WK) by 60.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 220,284 shares of the software maker’s stock after selling 338,334 shares during the quarter. Thrivent Financial for Lutherans owned about 0.40% of Workiva worth $17,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its holdings in 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 valued at $4,277,000 after acquiring an additional 31,421 shares during the period. RIA Advisory Group LLC bought a new stake in shares of Workiva during the 3rd quarter valued at $328,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Workiva during the 3rd quarter valued at $268,000. Impax Asset Management Group plc lifted its holdings in Workiva by 16.5% during the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock worth $12,547,000 after purchasing an additional 22,500 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Workiva in the 3rd quarter worth about $641,000. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WK shares. BMO Capital Markets increased their price target on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird boosted their price target on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Northland Securities dropped their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.20.

Workiva Stock Up 2.2 %

Shares of WK stock opened at $92.16 on Thursday. The business has a 50-day moving average price of $81.68 and a two-hundred day moving average price of $77.90. Workiva Inc. has a 12-month low of $65.47 and a 12-month high of $105.00. The firm has a market cap of $5.10 billion, a P/E ratio of -100.17 and a beta of 1.05.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.86% of the company’s stock.

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.