Alliancebernstein L.P. Sells 16,121 Shares of Workiva Inc. (NYSE:WK)

Alliancebernstein L.P. trimmed its stake in Workiva Inc. (NYSE:WK) by 20.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,068 shares of the software maker’s stock after selling 16,121 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Workiva worth $6,687,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in shares of 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 last quarter. Park Avenue Securities LLC raised 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 worth $499,000 after buying an additional 198 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after buying an additional 224 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Workiva during the fourth quarter valued at approximately $25,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Workiva by 5.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,296 shares of the software maker’s stock valued at $580,000 after buying an additional 267 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WK has been the topic of several analyst reports. Stephens assumed coverage on Workiva in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price objective on the stock. Stifel Nicolaus lowered their price target on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their price objective on Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Robert W. Baird boosted their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Workiva has an average rating of “Moderate Buy” and an average target price of $115.78.

Insider Activity at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was 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 of the company’s stock, valued at $10,124,352.16. The trade was a 4.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by company insiders.

Workiva Stock Down 0.4 %

NYSE WK opened at $66.29 on Friday. The company has a 50-day moving average price of $83.68 and a 200-day moving average price of $91.57. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The firm has a market capitalization of $3.72 billion, a P/E ratio of -72.06 and a beta of 1.02.

Workiva 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.