BMO Capital Markets Forecasts Strong Price Appreciation for Workiva (NYSE:WK) Stock

Workiva (NYSE:WK - Free Report) had its price target hoisted by BMO Capital Markets from $96.00 to $104.00 in a research note published on Thursday morning, MarketBeat.com reports. They currently have an outperform rating on the software maker's stock.

A number of other analysts have also weighed in on WK. StockNews.com lowered Workiva from a "buy" rating to a "hold" rating in a research note on Saturday, August 3rd. Northland Securities cut their price target on Workiva from $106.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.20.

Workiva Trading Up 4.7 %

WK stock traded up $4.08 during midday trading on Thursday, hitting $91.71. The stock had a trading volume of 918,446 shares, compared to its average volume of 373,197. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -55.84 and a beta of 1.05. The stock has a 50-day simple moving average of $78.12 and a 200 day simple moving average of $77.04. Workiva has a 52 week low of $65.47 and a 52 week high of $105.00.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.06). The business had revenue of $185.62 million during the quarter, compared to the consensus estimate of $182.50 million. On average, equities analysts forecast that Workiva will post -0.86 EPS for the current year.

Insider Activity at Workiva

In other news, EVP Michael D. Hawkins sold 2,761 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares of the company's stock, valued at approximately $3,721,570.20. This represents a 0.00 % 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. Insiders own 3.86% of the company's stock.

Institutional Investors Weigh In On Workiva

A number of large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Workiva during the 3rd quarter worth approximately $28,000. Quarry LP lifted its position in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after buying an additional 166 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Workiva during the 1st quarter worth $40,000. Point72 Hong Kong Ltd acquired a new stake in Workiva in the second quarter valued at about $62,000. Finally, Headlands Technologies LLC grew its position in Workiva by 896.0% in the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker's stock valued at $128,000 after acquiring an additional 1,577 shares during the last quarter. Institutional investors and hedge funds 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.