Stifel Nicolaus Upgrades Workiva (NYSE:WK) to Buy

Stifel Nicolaus upgraded shares of Workiva (NYSE:WKFree Report) from a hold rating to a buy rating in a research note published on Wednesday, MarketBeat reports. Stifel Nicolaus currently has $130.00 price objective on the software maker’s stock, up from their previous price objective of $102.00.

Several other equities analysts have also issued reports on the company. Citigroup boosted their price target on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Robert W. Baird boosted their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets raised their target price on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Check Out Our Latest Stock Analysis on WK

Workiva Price Performance

NYSE WK opened at $114.78 on Wednesday. The company’s fifty day moving average is $91.81 and its two-hundred day moving average is $80.86. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of -124.76 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC grew its position in Workiva by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock worth $86,745,000 after acquiring an additional 32,230 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Workiva by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Workiva by 13.5% in the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after buying an additional 86,746 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Workiva in the third quarter valued at about $381,000. Finally, TimesSquare Capital Management LLC lifted its position in Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after buying an additional 19,095 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Workiva Company Profile

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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.

Further Reading

Analyst Recommendations for Workiva (NYSE:WK)

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