Workiva (NYSE:WK) PT Raised to $105.00

Workiva (NYSE:WK) had its price target lifted by investment analysts at Citigroup from $103.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Citigroup’s price objective suggests a potential upside of 43.86% from the stock’s current price.

A number of other research firms have also recently issued reports on WK. StockNews.com raised shares of Workiva from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Robert W. Baird cut their target price on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday. William Blair restated an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.14.

Workiva Stock Performance

WK opened at $72.99 on Friday. The company has a fifty day moving average of $78.16 and a two-hundred day moving average of $86.02. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -42.44 and a beta of 1.07. Workiva has a fifty-two week low of $69.46 and a fifty-two week high of $116.00.

Workiva (NYSE:WK) last posted its earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million for the quarter, compared to analyst estimates of $173.85 million. On average, equities research analysts forecast that Workiva will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the sale, the executive vice president now owns 55,487 shares of the company’s stock, valued at $4,519,971.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workiva

Institutional investors and hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new position in shares of Workiva in the first quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new position in Workiva in the 1st quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new position in shares of Workiva in the fourth quarter worth $107,000. RiverPark Advisors LLC increased its position in shares of Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares during the period. Finally, Vinva Investment Management Ltd acquired a new stake in shares of Workiva in the third quarter valued at $162,000. 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.