Conestoga Capital Advisors LLC Boosts Position in Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC raised its position in shares of Workiva Inc. (NYSE:WK) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,165,019 shares of the software maker’s stock after purchasing an additional 140,310 shares during the quarter. Workiva accounts for approximately 1.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 25th biggest position. Conestoga Capital Advisors LLC’s holdings in Workiva were worth $127,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WK. V Square Quantitative Management LLC bought a new stake in Workiva during the third quarter valued at about $28,000. Quarry LP grew its stake in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after acquiring an additional 166 shares during the period. Nisa Investment Advisors LLC increased its holdings in 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 acquiring an additional 116 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Workiva during the 4th quarter worth approximately $219,000. Finally, Sanctuary Advisors LLC purchased a new position in Workiva during the third quarter valued at approximately $168,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

NYSE:WK opened at $98.24 on Monday. The company has a market cap of $5.44 billion, a price-to-earnings ratio of -106.78 and a beta of 1.07. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83. The stock’s 50 day simple moving average is $105.95 and its two-hundred day simple moving average is $88.57.

Analyst Ratings Changes

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