Workiva Inc. (NYSE:WK) Given Consensus Rating of “Buy” by Analysts

Shares of Workiva Inc. (NYSE:WK) have been given a consensus rating of “Buy” by the nine brokerages that are covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $118.38.

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their price target 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. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. Robert W. Baird lifted their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stephens assumed coverage on shares of Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 target price on the stock. Finally, Citigroup lifted their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th.

Workiva Stock Performance

NYSE WK opened at $75.87 on Thursday. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -82.47 and a beta of 1.09. The firm has a 50 day simple moving average of $90.84 and a 200-day simple moving average of $92.48. Workiva has a one year low of $65.47 and a one year high of $116.83.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is owned by company insiders.

Institutional Trading of Workiva

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in 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 in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Workiva in the 4th quarter worth approximately $59,894,000. Truist Financial Corp purchased a new position in Workiva in the 4th quarter valued at approximately $211,000. Janus Henderson Group PLC raised its holdings in Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after purchasing an additional 191,078 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in Workiva during the third quarter worth $381,000. 92.21% of the stock is currently 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.