Analysts Set Workiva Inc. (NYSE:WK) PT at $113.50

Workiva Inc. (NYSE:WK) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $113.50.

WK has been the subject of several research analyst reports. Stifel Nicolaus lowered their price objective on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. BMO Capital Markets lowered their price target on Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Finally, Citigroup reduced their price objective on Workiva from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st.

Workiva Stock Down 0.4 %

WK stock opened at $78.19 on Thursday. Workiva has a 52 week low of $77.31 and a 52 week high of $116.00. The business has a 50-day simple moving average of $85.70 and a 200 day simple moving average of $92.50. The company has a market cap of $4.28 billion, a PE ratio of -32.99 and a beta of 1.03.

Workiva (NYSE:WK) last released its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to the consensus estimate of $164.44 million. On average, analysts anticipate that Workiva will post -0.91 EPS for the current fiscal year.

Insider Activity at Workiva

In other news, EVP Michael D. Hawkins sold 11,439 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the sale, the executive vice president now directly owns 62,453 shares in the company, valued at $5,846,849.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workiva

A number of hedge funds have recently modified their holdings of WK. Mackenzie Financial Corp boosted its holdings in Workiva by 3.8% in the fourth quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock valued at $302,000 after acquiring an additional 108 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Workiva by 5.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,069 shares of the software maker’s stock worth $210,000 after purchasing an additional 108 shares during the period. Wealth Alliance boosted its stake in shares of Workiva by 4.8% in the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock valued at $266,000 after purchasing an additional 121 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Workiva by 7.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after buying an additional 132 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Workiva by 2.7% during the third quarter. Victory Capital Management Inc. now owns 5,201 shares of the software maker’s stock worth $527,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds 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.