Brokerages Set Workiva Inc. (NYSE:WK) PT at $120.25

Workiva Inc. (NYSE:WK - Get Free Report) has received an average rating of "Buy" from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $118.38.

Several research analysts have commented on the stock. Raymond James upgraded shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Stifel Nicolaus dropped their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Stephens assumed coverage on Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective for the company. BMO Capital Markets dropped their target price on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup boosted their price target on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at approximately $8,872,791.48. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by insiders.

Remove Ads

Hedge Funds Weigh In On Workiva

Several hedge funds have recently added to or reduced their stakes in WK. SG Americas Securities LLC increased its stake in Workiva by 141.6% in the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock valued at $1,023,000 after purchasing an additional 5,475 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Workiva during the fourth quarter worth about $59,894,000. Truist Financial Corp acquired a new position in shares of Workiva during the fourth quarter worth about $211,000. Janus Henderson Group PLC grew its holdings in shares of Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker's stock worth $16,919,000 after buying an additional 191,078 shares in the last quarter. Finally, Groupama Asset Managment bought a new stake in Workiva in the 3rd quarter valued at approximately $381,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Workiva Stock Down 3.0 %

NYSE:WK traded down $2.42 during trading hours on Thursday, reaching $78.66. 649,316 shares of the company's stock were exchanged, compared to its average volume of 449,510. The company has a market capitalization of $4.41 billion, a P/E ratio of -85.50 and a beta of 1.09. Workiva has a 12 month low of $65.47 and a 12 month high of $116.83. The business's 50-day simple moving average is $91.56 and its two-hundred day simple moving average is $92.30.

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.