Workiva (NYSE:WK) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Workiva (NYSE:WK) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Other research analysts also recently issued reports about the company. BMO Capital Markets reissued an outperform rating and issued a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. Robert W. Baird cut their target price on Workiva from $105.00 to $94.00 and set an outperform rating for the company in a research note on Thursday, June 27th. Citigroup raised their target price on Workiva from $103.00 to $105.00 and gave the stock a buy rating in a research note on Friday, June 28th. Finally, William Blair reaffirmed an outperform rating on shares of Workiva in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $105.14.

Workiva Stock Performance

NYSE WK opened at $74.52 on Thursday. The business has a fifty day moving average price of $74.62 and a 200 day moving average price of $82.25. Workiva has a one year low of $69.40 and a one year high of $116.00. The company has a market cap of $4.09 billion, a P/E ratio of -43.33 and a beta of 1.07.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). The firm had revenue of $175.67 million during the quarter, compared to analyst estimates of $173.85 million. As a group, sell-side analysts predict that Workiva will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 3,435 shares of the firm’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 sale, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at approximately $4,519,971.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC purchased a new position in Workiva during the 1st quarter valued at about $40,000. Fidelis Capital Partners LLC purchased a new position in Workiva during the 1st quarter valued at about $45,000. RiverPark Advisors LLC boosted its holdings in Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after acquiring an additional 893 shares during the period. SG Americas Securities LLC purchased a new position in Workiva during the 4th quarter valued at about $107,000. Finally, Fifth Third Bancorp boosted its holdings in Workiva by 9.0% during the 1st quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock valued at $143,000 after acquiring an additional 140 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.