Icon Wealth Advisors LLC Cuts Stock Position in Workiva Inc. (NYSE:WK)

Icon Wealth Advisors LLC lessened its position in Workiva Inc. (NYSE:WK) by 64.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,608 shares of the software maker’s stock after selling 2,966 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Workiva were worth $127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Workiva in the 3rd quarter valued at $28,000. Quarry LP raised its holdings in shares of Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after buying an additional 166 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Workiva in the 1st quarter valued at $40,000. Point72 Hong Kong Ltd purchased a new stake in shares of Workiva in the 2nd quarter valued at $62,000. Finally, Headlands Technologies LLC raised its holdings in shares of Workiva by 896.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after buying an additional 1,577 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.86% of the company’s stock.

Workiva Price Performance

Workiva stock opened at $95.62 on Monday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $105.00. The stock has a 50-day simple moving average of $82.57 and a 200-day simple moving average of $78.07.

Analyst Upgrades and Downgrades

WK has been the subject of several analyst reports. Northland Securities lowered their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com cut Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Stifel Nicolaus boosted their target price on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. BMO Capital Markets boosted their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.20.

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.