Workiva Inc. (NYSE:WK) Receives Average Recommendation of “Buy” from Brokerages

Workiva Inc. (NYSE:WK) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $117.40.

A number of equities research analysts have commented on WK shares. Citigroup raised their price objective on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Robert W. Baird boosted their price target on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and upped their price objective for the stock from $102.00 to $130.00 in a report on Wednesday, December 18th. Finally, BMO Capital Markets lifted 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.

Workiva Price Performance

Shares of WK opened at $111.66 on Tuesday. The stock has a 50-day moving average of $93.16 and a 200-day moving average of $81.45. Workiva has a one year low of $65.47 and a one year high of $116.83. The company has a market cap of $6.18 billion, a PE ratio of -121.37 and a beta of 1.09.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its holdings in Workiva by 2.8% during the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock worth $86,745,000 after acquiring an additional 32,230 shares during the period. Geode Capital Management LLC raised its stake in shares of Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after purchasing an additional 35,029 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Workiva by 13.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock worth $57,629,000 after buying an additional 86,746 shares during the last quarter. Groupama Asset Managment bought a new position in Workiva during the third quarter valued at about $381,000. Finally, TimesSquare Capital Management LLC increased its holdings in 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 buying an additional 19,095 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

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.