Workiva (NYSE:WK - Free Report) had its price objective lowered by The Goldman Sachs Group from $132.00 to $118.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the software maker's stock.
Several other research firms have also weighed in on WK. BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Raymond James upgraded shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. Robert W. Baird increased their price objective on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Stifel Nicolaus cut their target price 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. Finally, Stephens initiated coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Workiva currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.38.
View Our Latest Stock Report on Workiva
Workiva Trading Down 1.0 %
Shares of WK stock traded down $0.75 during trading hours on Friday, reaching $75.17. The company's stock had a trading volume of 338,828 shares, compared to its average volume of 450,659. The stock has a market capitalization of $4.22 billion, a P/E ratio of -81.64 and a beta of 1.09. The firm's fifty day simple moving average is $90.84 and its 200 day simple moving average is $92.48. Workiva has a one year low of $65.47 and a one year high of $116.83.
Insider Activity
In related news, EVP Michael D. Hawkins sold 10,421 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This trade represents a 3.82 % 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 worth $1,807,333 over the last ninety days. Corporate insiders own 3.86% of the company's stock.
Institutional Trading of Workiva
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock valued at $159,000 after purchasing an additional 116 shares during the period. World Investment Advisors raised its stake in Workiva by 2.7% in the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after acquiring an additional 135 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after purchasing an additional 198 shares during the period. Arizona State Retirement System lifted its stake in Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock valued at $1,552,000 after acquiring an additional 224 shares during the period. Finally, Twin Tree Management LP acquired a new position in Workiva during the fourth quarter valued at $25,000. 92.21% of the stock is owned by hedge funds and other institutional investors.
About Workiva
(
Get Free Report)
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.
See Also
Before you consider Workiva, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Workiva wasn't on the list.
While Workiva currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
