Workiva Inc. (NYSE:WK) Receives $109.43 Average Price Target from Analysts

Shares of Workiva Inc. (NYSE:WK) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $105.14.

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price target on shares of Workiva in a research report on Tuesday, June 11th. William Blair reaffirmed an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. StockNews.com raised shares of Workiva from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Finally, Robert W. Baird reduced their price target on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research report on Thursday.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total value of $279,815.10. Following the completion of the transaction, the executive vice president now owns 55,487 shares in the company, valued at $4,519,971.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after purchasing an additional 181,520 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Workiva by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock worth $156,836,000 after purchasing an additional 126,094 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Workiva by 58.2% during the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock worth $113,642,000 after purchasing an additional 492,945 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Workiva by 4.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock valued at $129,452,000 after acquiring an additional 51,506 shares in the last quarter. Finally, Brown Capital Management LLC boosted its stake in Workiva by 22.6% in the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after acquiring an additional 234,255 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Trading Down 0.7 %

WK stock opened at $72.99 on Tuesday. The business’s 50-day moving average is $78.16 and its 200 day moving average is $86.02. Workiva has a 12-month low of $69.46 and a 12-month high of $116.00. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -42.44 and a beta of 1.07.

Workiva (NYSE:WK) last released its earnings results on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million during the quarter, compared to analysts’ expectations of $173.85 million. As a group, equities analysts forecast that Workiva will post -0.62 EPS for the current fiscal year.

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.