BMO Capital Markets Lowers Workiva (NYSE:WK) Price Target to $108.00

Workiva (NYSE:WK - Get Free Report) had its price objective decreased by equities researchers at BMO Capital Markets from $120.00 to $108.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the software maker's stock. BMO Capital Markets' price objective points to a potential upside of 23.41% from the company's current price.

Several other research analysts have also issued reports on WK. The Goldman Sachs Group increased their price target on Workiva from $120.00 to $133.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Citigroup upped their price objective on shares of Workiva from $116.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Raymond James upgraded shares of 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. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Stifel Nicolaus decreased their price objective on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.57.

Workiva Price Performance

Shares of Workiva stock traded up $0.07 during trading on Wednesday, reaching $87.51. 1,166,818 shares of the company traded hands, compared to its average volume of 698,593. The firm has a market capitalization of $4.85 billion, a PE ratio of -95.12 and a beta of 1.06. The company has a 50 day moving average price of $101.95 and a 200-day moving average price of $90.83. Workiva has a 1-year low of $65.47 and a 1-year high of $116.83.

Institutional Trading of Workiva

A number of large investors have recently bought and sold shares of WK. Nisa Investment Advisors LLC raised its position in shares of Workiva by 8.7% in the fourth 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 grew its holdings in Workiva by 2.7% during the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock valued at $562,000 after buying an additional 135 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after buying an additional 198 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after buying an additional 224 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in Workiva during the fourth quarter valued at approximately $25,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.