Workiva Inc. (NYSE:WK) Receives $103.20 Average PT from Analysts

Shares of Workiva Inc. (NYSE:WK) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $103.20.

A number of equities research analysts have recently commented on WK shares. Northland Securities reduced their target price on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets upped their target price on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on shares of Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Stifel Nicolaus upped their target price on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a report on Thursday, November 7th.

Workiva Price Performance

Shares of WK opened at $98.73 on Friday. Workiva has a 1-year low of $65.47 and a 1-year high of $105.00. The stock has a market cap of $5.47 billion, a PE ratio of -105.70 and a beta of 1.05. The firm has a fifty day moving average price of $83.03 and a 200 day moving average price of $78.18.

Insider Transactions at Workiva

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after buying an additional 181,520 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Workiva by 2.8% in the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock valued at $86,745,000 after purchasing an additional 32,230 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Workiva by 13.5% in the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after purchasing an additional 86,746 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in shares of Workiva in the third quarter valued at approximately $381,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.