Brokerages Set Workiva Inc. (NYSE:WK) Target Price at $95.00

Workiva Inc. (NYSE:WK) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $95.00.

Several brokerages recently issued reports on WK. BMO Capital Markets restated an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Northland Securities decreased their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Citigroup increased their price objective on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Robert W. Baird decreased their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Several hedge funds have recently added to or reduced their stakes in WK. Virtu Financial LLC bought a new stake in Workiva during the fourth quarter worth approximately $757,000. Occudo Quantitative Strategies LP bought a new stake in shares of Workiva in the 4th quarter worth $4,880,000. First Trust Advisors LP lifted its holdings in shares of Workiva by 8.2% in the fourth quarter. First Trust Advisors LP now owns 626,803 shares of the software maker’s stock valued at $63,639,000 after buying an additional 47,256 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Workiva by 29.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,789 shares of the software maker’s stock valued at $29,662,000 after buying an additional 80,551 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Workiva during the first quarter worth about $1,629,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

WK opened at $77.19 on Thursday. Workiva has a 1-year low of $65.47 and a 1-year high of $105.00. The company has a 50-day moving average of $76.30 and a 200-day moving average of $77.14. The company has a market capitalization of $4.23 billion, a P/E ratio of -44.88 and a beta of 1.05.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to analysts’ expectations of $175.22 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Workiva will post -0.86 earnings per share for the current fiscal year.

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.