Workiva Inc. (NYSE:WK) Receives $121.57 Consensus PT from Brokerages

Workiva Inc. (NYSE:WK) has been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $121.57.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup boosted their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. BMO Capital Markets lowered their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird boosted their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Workiva Price Performance

Shares of Workiva stock opened at $85.89 on Friday. Workiva has a 1 year low of $65.47 and a 1 year high of $116.83. The firm has a market cap of $4.76 billion, a PE ratio of -93.36 and a beta of 1.09. The company has a 50 day simple moving average of $98.88 and a two-hundred day simple moving average of $91.33.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the transaction, the chief financial officer now directly owns 119,054 shares of the company’s stock, valued at $10,124,352.16. The trade was a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,129 shares of company stock valued at $1,718,633 over the last three months. 3.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new position in Workiva during the 4th quarter valued at $25,000. Johnson Financial Group Inc. purchased a new position in Workiva during the 4th quarter valued at $66,000. GeoWealth Management LLC increased its position in Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after purchasing an additional 602 shares during the period. EverSource Wealth Advisors LLC increased its position in Workiva by 14,650.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after purchasing an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the period. 92.21% of the stock is owned by hedge funds and other 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.