Workiva (NYSE:WK) Research Coverage Started at Stephens

Stephens began coverage on shares of Workiva (NYSE:WK) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $111.00 price target on the software maker’s stock.

A number of other brokerages have also recently weighed in on WK. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. Robert W. Baird boosted their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup increased their price target on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, BMO Capital Markets lowered their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.25.

Workiva Price Performance

Shares of NYSE:WK opened at $87.28 on Wednesday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. The firm’s 50 day simple moving average is $94.33 and its 200 day simple moving average is $91.82. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

Insider Transactions at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 in the last ninety days. 3.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workiva

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Workiva by 141.6% in the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after buying an additional 5,475 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Workiva by 138.8% in the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after purchasing an additional 31,421 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Workiva in the fourth quarter valued at about $59,894,000. Advantage Alpha Capital Partners LP lifted its stake in shares of Workiva by 13.9% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 87,472 shares of the software maker’s stock worth $6,921,000 after buying an additional 10,644 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in shares of Workiva during the 4th quarter worth about $211,000. Institutional investors own 92.21% of the company’s stock.

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.