Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Workiva Inc. (NYSE:WK)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Workiva Inc. (NYSE:WK) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,335 shares of the software maker’s stock after purchasing an additional 14,884 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Workiva were worth $11,753,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Workiva by 141.6% in the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock worth $1,023,000 after purchasing an additional 5,475 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Workiva by 138.8% in 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 in the last quarter. Nordea Investment Management AB purchased a new stake in Workiva in the 4th quarter worth $59,894,000. GSA Capital Partners LLP purchased a new stake in Workiva in the 3rd quarter worth $641,000. Finally, Impax Asset Management Group plc lifted 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 worth $12,547,000 after purchasing an additional 22,500 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of WK stock opened at $87.63 on Friday. The company has a market capitalization of $4.92 billion, a P/E ratio of -95.25 and a beta of 1.09. The company’s 50-day simple moving average is $96.98 and its two-hundred day simple moving average is $91.43. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83.

Insiders Place Their Bets

In other Workiva news, CFO Jill Klindt sold 5,593 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total value 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last three months. Corporate insiders own 3.86% of the company’s stock.

Analysts Set New Price Targets

WK has been the topic of several recent research reports. Citigroup upped their target price 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. The Goldman Sachs Group upped their target price on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Stifel Nicolaus decreased their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets reduced their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

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.