Workiva Inc. (NYSE:WK) Receives $113.50 Average Price Target from Brokerages

Workiva Inc. (NYSE:WK) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $113.50.

A number of equities research analysts have commented on WK shares. Citigroup reduced their price target on shares of Workiva from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Stifel Nicolaus reduced their price objective on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, February 21st. Finally, BMO Capital Markets decreased their target price on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st.

Workiva Trading Down 0.1 %

NYSE:WK opened at $76.97 on Thursday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -32.48 and a beta of 1.03. The firm has a fifty day simple moving average of $85.08 and a two-hundred day simple moving average of $92.23. Workiva has a 12 month low of $76.63 and a 12 month high of $116.00.

Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. Equities analysts predict that Workiva will post -0.91 earnings per share for the current fiscal year.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the sale, the executive vice president now directly owns 62,453 shares of the company’s stock, valued at approximately $5,846,849.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workiva

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Workiva by 23.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,022,057 shares of the software maker’s stock valued at $199,426,000 after acquiring an additional 564,500 shares during the last quarter. Norges Bank purchased a new position in Workiva in the fourth quarter valued at about $57,025,000. Clearbridge Investments LLC purchased a new position in Workiva in the first quarter valued at about $57,921,000. Loomis Sayles & Co. L P boosted its stake in Workiva by 159.1% in the third quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock valued at $69,257,000 after acquiring an additional 419,640 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Workiva in the fourth quarter valued at about $36,581,000. 92.21% of the stock is owned by institutional investors.

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.