Workiva (NYSE:WK) Now Covered by Stephens

Stephens started coverage on shares of Workiva (NYSE:WK - Free Report) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $111.00 target price on the software maker's stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. 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 research note on Friday, January 3rd. Citigroup raised their price target on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Workiva presently has an average rating of "Moderate Buy" and an average target price of $120.25.

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Workiva Stock Down 1.0 %

Shares of WK stock traded down $0.88 during trading hours on Wednesday, hitting $87.28. 694,420 shares of the company's stock traded hands, compared to its average volume of 424,876. The stock's 50 day simple moving average is $94.33 and its 200 day simple moving average is $92.06. The stock has a market cap of $4.90 billion, a PE ratio of -94.87 and a beta of 1.09. Workiva has a 12 month low of $65.47 and a 12 month high of $116.83.

Insider Activity at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock valued at $1,807,333 over the last ninety days. Corporate insiders own 3.86% of the company's stock.

Institutional Trading of Workiva

Several hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. bought a new stake in Workiva in the fourth quarter worth about $5,825,000. GTS Securities LLC bought a new stake in Workiva in the fourth quarter worth about $212,000. Castleark Management LLC bought a new stake in Workiva in the fourth quarter worth about $6,800,000. Vident Advisory LLC bought a new stake in Workiva in the fourth quarter worth about $240,000. Finally, Two Sigma Advisers LP raised its position in Workiva by 155.8% in the fourth quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker's stock worth $4,621,000 after acquiring an additional 25,700 shares during the period. Institutional investors own 92.21% of the company's stock.

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.