Allianz Asset Management GmbH Lowers Position in Workiva Inc. $WK

Allianz Asset Management GmbH decreased its position in Workiva Inc. (NYSE:WK) by 33.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,589 shares of the software maker’s stock after selling 13,366 shares during the period. Allianz Asset Management GmbH’s holdings in Workiva were worth $2,289,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Workiva by 287.8% during the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after purchasing an additional 213 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Workiva during the second quarter valued at approximately $51,000. State of Wyoming raised its holdings in shares of Workiva by 15.4% during the third quarter. State of Wyoming now owns 1,553 shares of the software maker’s stock valued at $134,000 after acquiring an additional 207 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Workiva by 14.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,453 shares of the software maker’s stock valued at $168,000 after acquiring an additional 304 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Workiva in the third quarter worth approximately $172,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on WK. Truist Financial raised their price objective on Workiva from $95.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 7th. BTIG Research assumed coverage on shares of Workiva in a research note on Tuesday, December 16th. They issued a “buy” rating and a $105.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $110.00 price objective on shares of Workiva in a research note on Thursday, November 6th. BMO Capital Markets increased their price objective on shares of Workiva from $100.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Workiva in a report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Workiva has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Workiva Stock Performance

Workiva stock opened at $65.01 on Thursday. The company has a market capitalization of $3.65 billion, a PE ratio of -77.39 and a beta of 0.62. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $97.10. The firm has a 50 day moving average price of $83.67 and a 200 day moving average price of $83.46.

Workiva Company Profile

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.