Workiva (NYSE:WK) Raised to “Buy” at StockNews.com

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

WK has been the subject of a number of other reports. Citigroup upped their price target on Workiva from $103.00 to $105.00 and gave the company a buy rating in a research note on Friday, June 28th. BMO Capital Markets reissued an outperform rating and set a $96.00 price target on shares of Workiva in a research report on Tuesday, June 11th. William Blair reissued an outperform rating on shares of Workiva in a report on Friday, May 3rd. Finally, Robert W. Baird dropped their price objective on Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $105.14.

Workiva Stock Performance

Shares of WK stock opened at $74.52 on Thursday. The firm’s 50 day moving average price is $74.62 and its two-hundred day moving average price is $82.32. Workiva has a 52-week low of $69.40 and a 52-week high of $116.00. The stock has a market cap of $4.09 billion, a PE ratio of -43.33 and a beta of 1.07.

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 the consensus estimate of ($0.19). The company had revenue of $175.67 million during the quarter, compared to the consensus estimate of $173.85 million. As a group, sell-side analysts predict that Workiva will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $279,815.10. Following the sale, the executive vice president now directly owns 55,487 shares in the company, valued at $4,519,971.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

Hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new position in Workiva during the first quarter worth $40,000. Fidelis Capital Partners LLC acquired a new position in shares of Workiva during the 1st quarter worth about $45,000. RiverPark Advisors LLC grew its holdings in shares of Workiva by 361.5% in 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Workiva in the fourth quarter valued at about $107,000. Finally, Fifth Third Bancorp raised its holdings in Workiva by 9.0% during the first quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock worth $143,000 after acquiring an additional 140 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.