Pathstone Holdings LLC Decreases Stake in Workiva Inc. (NYSE:WK)

Pathstone Holdings LLC cut its position in Workiva Inc. (NYSE:WK) by 25.2% during the third quarter, HoldingsChannel reports. The firm owned 16,958 shares of the software maker’s stock after selling 5,708 shares during the quarter. Pathstone Holdings LLC’s holdings in Workiva were worth $1,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC increased its holdings in shares of Workiva by 441.6% in the 3rd quarter. Quest Partners LLC now owns 14,633 shares of the software maker’s stock valued at $1,158,000 after acquiring an additional 11,931 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake 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 worth $4,277,000 after purchasing an additional 31,421 shares during the period. RIA Advisory Group LLC purchased a new position in shares of Workiva during the third quarter worth about $328,000. Cornercap Investment Counsel Inc. purchased a new position in shares of Workiva in the 3rd quarter valued at approximately $268,000. Finally, Impax Asset Management Group plc increased its stake in Workiva by 16.5% in the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock valued at $12,547,000 after buying an additional 22,500 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Workiva Stock Performance

WK opened at $96.85 on Friday. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $105.00. The firm has a 50 day moving average price of $83.86 and a 200 day moving average price of $78.43. The company has a market cap of $5.36 billion, a PE ratio of -105.27 and a beta of 1.05.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.86% of the stock is owned by insiders.

Workiva Company 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.