Brokerages Set Workiva Inc. (NYSE:WK) PT at $95.00

Workiva Inc. (NYSE:WK) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $95.00.

A number of equities research analysts recently issued reports on WK shares. Citigroup upped their price objective on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities decreased their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird cut their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th.

Insider Buying and Selling at Workiva

In other news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Workiva by 2.0% in the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock worth $498,000 after acquiring an additional 137 shares during the last quarter. Quarry LP lifted its position in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Workiva by 8.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after purchasing an additional 179 shares in the last quarter. Xponance Inc. increased its holdings in Workiva by 6.0% in the second quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock valued at $233,000 after buying an additional 182 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Workiva by 3.9% in the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock valued at $358,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of WK opened at $78.41 on Thursday. The stock has a 50 day moving average price of $76.44 and a 200 day moving average price of $77.10. Workiva has a one year low of $65.47 and a one year high of $105.00. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -45.59 and a beta of 1.05.

Workiva (NYSE:WK) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $177.50 million for the quarter, compared to the consensus estimate of $175.22 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) EPS. On average, analysts predict that Workiva will post -0.86 earnings per share for the current 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.