Workiva Inc. $WK Stock Position Lessened by Madison Asset Management LLC

Madison Asset Management LLC reduced its stake in shares of Workiva Inc. (NYSE:WK) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,797 shares of the software maker’s stock after selling 10,942 shares during the quarter. Madison Asset Management LLC owned about 0.09% of Workiva worth $4,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eminence Capital LP lifted its stake in shares of Workiva by 209.6% in the 2nd quarter. Eminence Capital LP now owns 2,646,768 shares of the software maker’s stock worth $181,171,000 after acquiring an additional 1,791,768 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Workiva during the second quarter worth approximately $88,677,000. Norges Bank acquired a new stake in Workiva in the second quarter worth approximately $40,230,000. Nordea Investment Management AB boosted its stake in Workiva by 50.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,368,401 shares of the software maker’s stock valued at $115,589,000 after purchasing an additional 460,540 shares in the last quarter. Finally, Pembroke Management LTD bought a new position in Workiva during the 3rd quarter valued at $36,185,000. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Workiva in a report on Wednesday, January 21st. Stephens lifted their price objective on shares of Workiva from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Raymond James Financial reissued an “outperform” rating and set a $105.00 target price on shares of Workiva in a research note on Wednesday, December 10th. UBS Group set a $110.00 price target on shares of Workiva in a research report on Sunday, November 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $110.00 price objective on shares of Workiva in a research report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.92.

Workiva Stock Down 7.1%

NYSE WK opened at $65.01 on Thursday. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $97.10. The stock has a market cap of $3.65 billion, a P/E ratio of -77.39 and a beta of 0.62. The company’s 50-day simple moving average is $83.67 and its 200 day simple moving average is $83.46.

About Workiva

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.