StockNews.com Lowers Workiva (NYSE:WK) to Hold

StockNews.com downgraded shares of Workiva (NYSE:WK) from a buy rating to a hold rating in a report released on Monday morning.

Other research analysts also recently issued reports about the stock. William Blair reaffirmed an outperform rating on shares of Workiva in a research report on Friday, May 3rd. Citigroup increased their target price on shares of Workiva from $103.00 to $105.00 and gave the company a buy rating in a research report on Friday, June 28th. BMO Capital Markets reaffirmed an outperform rating and issued a $96.00 target price on shares of Workiva in a research report on Tuesday, June 11th. Finally, Robert W. Baird dropped their target price on shares of Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Workiva has a consensus rating of Moderate Buy and an average target price of $105.14.

Workiva Trading Up 1.0 %

Shares of WK opened at $72.60 on Monday. Workiva has a twelve month low of $69.46 and a twelve month high of $116.00. The firm’s fifty day simple moving average is $77.54 and its 200-day simple moving average is $85.37. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -42.21 and a beta of 1.07.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). The firm had revenue of $175.67 million during the quarter, compared to analyst estimates of $173.85 million. On average, analysts predict that Workiva will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.86% of the stock is currently owned by insiders.

Institutional Trading of Workiva

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Workiva by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after acquiring an additional 181,520 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of 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 period. Champlain Investment Partners LLC lifted its stake in shares of 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 period. Artisan Partners Limited Partnership lifted its stake in shares of 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 period. Finally, Brown Capital Management LLC lifted its stake in shares of 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 period. 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.