Workiva (NYSE:WK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Workiva (NYSE:WK - Free Report) had its price objective raised by Robert W. Baird from $110.00 to $130.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the software maker's stock.

A number of other equities research analysts also recently commented on WK. Stifel Nicolaus increased their price objective on Workiva from $85.00 to $102.00 and gave the company a "hold" rating in a research report on Thursday, November 7th. BMO Capital Markets upped their price target on shares of Workiva from $96.00 to $104.00 and gave the stock an "outperform" rating in a research note 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's stock. Based on data from MarketBeat.com, Workiva currently has an average rating of "Moderate Buy" and an average target price of $107.20.

Workiva Stock Down 0.4 %

WK traded down $0.43 during trading on Friday, reaching $103.87. The stock had a trading volume of 327,727 shares, compared to its average volume of 377,347. Workiva has a 1-year low of $65.47 and a 1-year high of $106.03. The stock has a 50 day moving average of $88.81 and a two-hundred day moving average of $79.81. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -113.33 and a beta of 1.09.

Hedge Funds Weigh In On Workiva

A number of institutional investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC grew its position in Workiva by 2.8% during the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker's stock worth $86,745,000 after buying an additional 32,230 shares in the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P raised its stake 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 acquiring an additional 86,746 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Workiva in the third quarter valued at approximately $381,000. Finally, TimesSquare Capital Management LLC raised its position in Workiva by 4.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker's stock worth $37,010,000 after purchasing an additional 19,095 shares during the last quarter. 92.21% of the stock is currently 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.