Workiva Inc. (NYSE:WK) Receives $109.43 Average PT from Analysts

Workiva Inc. (NYSE:WK) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $105.14.

Several research analysts have recently commented on the stock. Robert W. Baird dropped their price target on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research note on Thursday. Citigroup increased their price target on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday. William Blair restated an “outperform” rating on shares of Workiva in a research note on Friday, May 3rd. StockNews.com upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $96.00 price target on shares of Workiva in a research note on Tuesday, June 11th.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total value of $279,815.10. Following the completion of the sale, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at approximately $4,519,971.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.86% of the stock is currently owned by company insiders.

Institutional Trading of Workiva

A number of hedge funds have recently bought and sold shares of WK. Rhumbline Advisers boosted its holdings in Workiva by 6.1% in the 3rd quarter. Rhumbline Advisers now owns 73,560 shares of the software maker’s stock valued at $7,455,000 after purchasing an additional 4,215 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Workiva by 31.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 237,690 shares of the software maker’s stock valued at $24,088,000 after purchasing an additional 57,533 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Workiva by 116.6% during the 3rd quarter. Hsbc Holdings PLC now owns 12,233 shares of the software maker’s stock worth $1,246,000 after acquiring an additional 6,585 shares during the period. Acadian Asset Management LLC bought a new position in shares of Workiva during the 3rd quarter worth about $1,018,000. Finally, Stifel Financial Corp lifted its holdings in shares of Workiva by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 49,570 shares of the software maker’s stock worth $5,023,000 after acquiring an additional 935 shares during the period. 92.21% of the stock is owned by institutional investors.

Workiva Stock Performance

Workiva stock opened at $72.99 on Tuesday. The firm has a market cap of $4.00 billion, a PE ratio of -42.44 and a beta of 1.07. The firm’s 50 day moving average price is $78.16 and its two-hundred day moving average price is $86.02. Workiva has a twelve month low of $69.46 and a twelve month high of $116.00.

Workiva (NYSE:WK) last released its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, meeting the consensus estimate of ($0.19). The company had revenue of $175.67 million during the quarter, compared to analyst estimates of $173.85 million. Equities analysts anticipate that Workiva will post -0.62 EPS for the current fiscal year.

Workiva Company Profile

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.