Workiva Inc. (NYSE:WK) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Workiva Inc. (NYSE:WK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $95.00.

Several equities research analysts recently issued reports on the stock. Northland Securities cut their target price on shares of Workiva from $106.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded shares of Workiva from a "buy" rating to a "hold" rating in a research report on Saturday, August 3rd.

Insider Activity

In other news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WK. Diversified Trust Co grew its stake in shares of Workiva by 98.0% during the first quarter. Diversified Trust Co now owns 11,410 shares of the software maker's stock worth $968,000 after buying an additional 5,648 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Workiva by 16.6% in the first quarter. Principal Financial Group Inc. now owns 6,686 shares of the software maker's stock worth $567,000 after purchasing an additional 951 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Workiva by 29.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,789 shares of the software maker's stock worth $29,662,000 after purchasing an additional 80,551 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Workiva by 4.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,935 shares of the software maker's stock worth $1,690,000 after purchasing an additional 821 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Workiva in the first quarter worth $45,000. 92.21% of the stock is owned by institutional investors.

Workiva Trading Down 0.3 %

Shares of NYSE WK traded down $0.25 during mid-day trading on Monday, hitting $78.53. The company had a trading volume of 211,065 shares, compared to its average volume of 369,200. The company has a market capitalization of $4.34 billion, a PE ratio of -47.59 and a beta of 1.05. The firm has a 50-day simple moving average of $77.76 and a two-hundred day simple moving average of $76.85. Workiva has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK - Get Free Report) last issued its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $177.50 million for the quarter, compared to analyst estimates of $175.22 million. During the same period in the prior year, the business earned ($0.36) EPS. The business's revenue was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Workiva will post -0.86 earnings per share for the current fiscal year.

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.