Workiva (NYSE:WK) Rating Increased to Buy at Stifel Nicolaus

Workiva (NYSE:WK - Get Free Report) was upgraded by investment analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $130.00 price objective on the software maker's stock, up from their previous price objective of $102.00. Stifel Nicolaus' target price would suggest a potential upside of 18.06% from the company's current price.

WK has been the subject of a number of other reports. Citigroup increased their price target on Workiva from $116.00 to $128.00 and gave the company a "buy" rating in a research note on Monday. Robert W. Baird lifted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, BMO Capital Markets boosted their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $117.40.

Workiva Stock Up 0.8 %

NYSE:WK traded up $0.82 during mid-day trading on Wednesday, reaching $110.11. The company's stock had a trading volume of 1,155,566 shares, compared to its average volume of 381,631. The firm has a market capitalization of $6.10 billion, a PE ratio of -119.68 and a beta of 1.09. The stock has a fifty day moving average of $90.52 and a 200-day moving average of $80.44. Workiva has a 1 year low of $65.47 and a 1 year high of $116.83.

Institutional Investors Weigh In On Workiva

A number of large investors have recently made changes to their positions in WK. V Square Quantitative Management LLC acquired a new position in shares of Workiva in the 3rd quarter valued at $28,000. Quarry LP lifted its stake in Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after acquiring an additional 166 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Workiva in the 2nd quarter valued at about $62,000. Headlands Technologies LLC lifted its position in shares of Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker's stock worth $128,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Workiva in the third quarter valued at approximately $168,000. 92.21% of the stock is currently 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.