Brokerages Set Workiva Inc. (NYSE:WK) Price Target at $120.25

Shares of Workiva Inc. (NYSE:WK) have received an average recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $118.38.

Several research analysts recently issued reports on WK shares. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. The Goldman Sachs Group reduced their price target on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a report on Friday, March 28th. Robert W. Baird lifted their price target on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets reduced their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup upped their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th.

Workiva Stock Performance

Shares of WK opened at $77.18 on Thursday. Workiva has a 1 year low of $65.47 and a 1 year high of $116.83. The stock has a market capitalization of $4.33 billion, a P/E ratio of -83.89 and a beta of 1.09. The company’s fifty day moving average is $89.65 and its two-hundred day moving average is $92.38.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 10,421 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last three months. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

Hedge funds have recently modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Workiva during the fourth quarter valued at approximately $25,000. Global Wealth Strategies & Associates acquired a new position in Workiva in the 1st quarter valued at $53,000. Johnson Financial Group Inc. purchased a new position in shares of Workiva during the 4th quarter worth $66,000. GeoWealth Management LLC boosted its holdings in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after purchasing an additional 602 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after purchasing an additional 879 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.