Workiva (NYSE:WK) Price Target Cut to $94.00 by Analysts at Robert W. Baird

Workiva (NYSE:WK) had its price objective lowered by Robert W. Baird from $105.00 to $94.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Other equities analysts have also recently issued reports about the company. Citigroup cut their target price on Workiva from $110.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. StockNews.com raised shares of Workiva from a hold rating to a buy rating in a report on Tuesday, June 11th. BMO Capital Markets reaffirmed an outperform rating and set a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Finally, William Blair reaffirmed an outperform rating on shares of Workiva in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Workiva presently has a consensus rating of Moderate Buy and an average price target of $105.14.

Workiva Stock Performance

NYSE:WK opened at $72.99 on Thursday. The company has a market capitalization of $4.00 billion, a PE ratio of -42.44 and a beta of 1.07. The company has a 50 day simple moving average of $78.16 and a two-hundred day simple moving average of $85.94. Workiva has a fifty-two week low of $69.46 and a fifty-two week high of $116.00.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million for the quarter, compared to the consensus estimate of $173.85 million. Research analysts predict that Workiva will post -0.62 EPS for the current year.

Insider Buying and Selling at Workiva

In other news, EVP Michael D. Hawkins sold 3,435 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the transaction, the executive vice president now owns 55,487 shares of the company’s stock, valued at $4,519,971.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock valued at $439,767,000 after purchasing an additional 181,520 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Workiva by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock valued at $156,836,000 after purchasing an additional 126,094 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Workiva by 58.2% in the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after purchasing an additional 492,945 shares during the last quarter. Artisan Partners Limited Partnership lifted its position 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 purchasing an additional 51,506 shares during the last quarter. Finally, Brown Capital Management LLC lifted its position 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 purchasing an additional 234,255 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.