Workiva (NYSE:WK) Sets New 12-Month High Following Analyst Upgrade

Workiva Inc. (NYSE:WK - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $116.00 to $128.00. Citigroup currently has a buy rating on the stock. Workiva traded as high as $107.49 and last traded at $107.45, with a volume of 47724 shares. The stock had previously closed at $105.42.

WK has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Robert W. Baird raised their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stifel Nicolaus boosted their target price on shares of Workiva from $85.00 to $102.00 and gave the company a "hold" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $111.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC boosted its position in Workiva by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker's stock valued at $86,745,000 after buying an additional 32,230 shares during the period. Geode Capital Management LLC boosted its position in Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock valued at $90,597,000 after acquiring an additional 35,029 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Workiva by 13.5% in the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker's stock worth $57,629,000 after purchasing an additional 86,746 shares in the last quarter. Groupama Asset Managment purchased a new position in Workiva during the 3rd quarter valued at about $381,000. Finally, TimesSquare Capital Management LLC grew its stake in shares of Workiva by 4.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker's stock worth $37,010,000 after buying an additional 19,095 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Stock Up 3.7 %

The stock has a market capitalization of $6.05 billion, a P/E ratio of -118.79 and a beta of 1.09. The firm has a fifty day moving average price of $89.86 and a two-hundred day moving average price of $80.21.

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.