Abacus Planning Group Inc. Acquires Shares of 2,030 Workiva Inc. (NYSE:WK)

Abacus Planning Group Inc. acquired a new stake in shares of Workiva Inc. (NYSE:WK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,030 shares of the software maker’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Workiva in the third quarter valued at $168,000. Quantinno Capital Management LP acquired a new stake in shares of Workiva in the third quarter valued at $207,000. Truist Financial Corp acquired a new stake in shares of Workiva in the fourth quarter valued at $211,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Workiva in the fourth quarter valued at $219,000. 92.21% of the stock is owned by institutional investors.

Workiva Trading Down 3.0 %

Shares of WK stock opened at $87.06 on Thursday. Workiva Inc. has a 12 month low of $65.47 and a 12 month high of $116.83. The stock has a 50-day moving average price of $104.52 and a 200 day moving average price of $90.41.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WK shares. The Goldman Sachs Group raised their target price on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Citigroup raised their target price on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and raised their target price for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. Finally, BMO Capital Markets lifted their price objective on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.14.

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.