Workiva Inc. (NYSE:WK) Receives $120.25 Consensus Target Price from Brokerages

Shares of Workiva Inc. (NYSE:WK - Get Free Report) have received a consensus rating of "Buy" from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $118.38.

Several research firms recently commented on WK. The Goldman Sachs Group dropped their price objective on Workiva from $132.00 to $118.00 and set a "buy" rating on the stock in a research note on Friday. Citigroup increased their price target on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Friday, January 3rd. Stephens assumed coverage on shares of Workiva in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now directly owns 119,054 shares in the company, valued at approximately $10,124,352.16. The trade was a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 over the last ninety days. 3.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workiva

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Workiva in the 3rd quarter worth approximately $862,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Workiva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,782 shares of the software maker's stock worth $33,530,000 after buying an additional 6,422 shares during the period. Quantbot Technologies LP lifted its stake in shares of Workiva by 431.1% in the 3rd quarter. Quantbot Technologies LP now owns 20,064 shares of the software maker's stock valued at $1,587,000 after acquiring an additional 16,286 shares during the last quarter. FORA Capital LLC purchased a new stake in Workiva during the 3rd quarter valued at about $479,000. Finally, Verition Fund Management LLC boosted its holdings in Workiva by 241.4% during the 3rd quarter. Verition Fund Management LLC now owns 20,461 shares of the software maker's stock valued at $1,619,000 after acquiring an additional 14,467 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Trading Down 3.0 %

Shares of NYSE:WK traded down $2.42 during midday trading on Thursday, reaching $78.66. The company had a trading volume of 649,316 shares, compared to its average volume of 449,510. The stock has a market cap of $4.41 billion, a P/E ratio of -85.50 and a beta of 1.09. The company's 50 day moving average price is $91.56 and its 200 day moving average price is $92.45. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83.

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.