Robert W. Baird Forecasts Strong Price Appreciation for Workiva (NYSE:WK) Stock

Workiva (NYSE:WK) had its price target hoisted by analysts at Robert W. Baird from $110.00 to $130.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 24.69% from the stock’s current price.

Several other research analysts have also weighed in on WK. BMO Capital Markets lifted their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their target price on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.20.

Workiva Stock Down 0.4 %

NYSE:WK opened at $104.26 on Friday. Workiva has a 12-month low of $65.47 and a 12-month high of $106.03. The firm has a market capitalization of $5.78 billion, a P/E ratio of -113.33 and a beta of 1.09. The stock’s fifty day simple moving average is $88.81 and its 200-day simple moving average is $79.81.

Institutional Trading of Workiva

A number of hedge funds and other institutional investors have recently modified their holdings of WK. Groupama Asset Managment acquired a new position in Workiva during the third quarter worth approximately $381,000. Jacobs Levy Equity Management Inc. acquired a new position in Workiva during the third quarter worth approximately $18,000,000. Janus Henderson Group PLC increased its position in Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after buying an additional 191,078 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Workiva by 435.5% during the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock worth $11,503,000 after buying an additional 118,234 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in Workiva by 13.5% during the third 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. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.