Stephens Begins Coverage on Workiva (NYSE:WK)

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

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Robert W. Baird lifted 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. Finally, Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workiva currently has a consensus rating of “Moderate Buy” and an average target price of $120.25.

Workiva Stock Performance

NYSE WK opened at $89.40 on Wednesday. The business’s fifty day moving average is $95.16 and its 200 day moving average is $91.78. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The company has a market capitalization of $5.02 billion, a PE ratio of -97.17 and a beta of 1.09.

Insiders Place Their Bets

In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their position. 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 three months. Corporate insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Workiva during the fourth quarter valued at approximately $59,676,000. Nordea Investment Management AB bought a new position in Workiva in the 4th quarter valued at $59,894,000. Groupama Asset Managment purchased a new stake in Workiva in the third quarter worth $381,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Workiva during the fourth quarter worth $51,353,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Workiva during the fourth quarter valued at $32,863,000. 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.