Workiva Inc. (NYSE:WK) Receives $114.33 Consensus PT from Brokerages

Workiva Inc. (NYSE:WK - Get Free Report) has received an average recommendation of "Buy" from the eleven analysts that are presently covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $112.90.

WK has been the subject of a number of recent research reports. Truist Financial dropped their target price on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus cut their price target 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. Stephens assumed coverage on Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price objective on the stock. BNP Paribas started coverage on Workiva in a research note on Tuesday. They issued an "outperform" rating and a $100.00 target price for the company. Finally, Citigroup raised their price target on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th.

Workiva Price Performance

WK stock traded up $1.10 during mid-day trading on Monday, hitting $69.92. 511,649 shares of the stock were exchanged, compared to its average volume of 493,354. The business has a fifty day moving average price of $79.68 and a 200 day moving average price of $91.05. Workiva has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -76.00 and a beta of 1.02.

Insiders Place Their Bets

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares of the company's stock, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workiva

Several hedge funds and other institutional investors have recently modified their holdings of WK. Twin Tree Management LP purchased a new stake in Workiva in the fourth quarter worth about $25,000. Farther Finance Advisors LLC raised its position in shares of Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Workiva by 109.2% in the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after purchasing an additional 296 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Workiva during the fourth quarter valued at approximately $66,000. Finally, GeoWealth Management LLC boosted its position in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after purchasing an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

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.