Workiva (NYSE:WK) Now Covered by Analysts at BNP Paribas

Equities researchers at BNP Paribas began coverage on shares of Workiva (NYSE:WK - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $100.00 price target on the software maker's stock. BNP Paribas' price objective points to a potential upside of 51.38% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Stephens assumed coverage on Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Raymond James raised Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Finally, Citigroup upped their target price on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Workiva presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.90.

Workiva Price Performance

NYSE:WK opened at $66.06 on Tuesday. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -71.80 and a beta of 1.02. The firm's fifty day moving average price is $80.13 and its 200 day moving average price is $91.21.

Insiders Place Their Bets

In related news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. This represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction that occurred 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 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. In the last ninety days, insiders have sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company's stock.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Workiva by 141.6% during 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 during the period. Nordea Investment Management AB acquired a new position in Workiva in the 4th quarter worth $59,894,000. Truist Financial Corp purchased a new position in Workiva in the 4th quarter valued at about $211,000. World Investment Advisors LLC acquired a new stake in shares of Workiva during the third quarter valued at about $396,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Workiva during the fourth quarter worth about $237,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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