Legato Capital Management LLC Buys New Stake in Workiva Inc. (NYSE:WK)

Legato Capital Management LLC bought a new stake in Workiva Inc. (NYSE:WK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,064 shares of the software maker’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Versor Investments LP bought a new stake in Workiva during the third quarter worth about $1,217,000. SG Americas Securities LLC lifted its position in shares of Workiva by 141.6% during the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock worth $1,023,000 after purchasing an additional 5,475 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Workiva by 4.3% during the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after purchasing an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Workiva by 138.8% during the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock worth $4,277,000 after purchasing an additional 31,421 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Workiva during the fourth quarter worth approximately $59,894,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

WK opened at $89.12 on Friday. The firm’s fifty day moving average is $105.40 and its two-hundred day moving average is $89.96. The firm has a market cap of $4.94 billion, a PE ratio of -96.87 and a beta of 1.06. Workiva Inc. has a twelve month low of $65.47 and a twelve month high of $116.83.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Citigroup increased their price objective on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a report on Monday, December 16th. BMO Capital Markets increased their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.