Analysts Set Workiva Inc. (NYSE:WK) Price Target at $120.25

Workiva Inc. (NYSE:WK) has been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $118.38.

A number of research firms have recently commented on WK. Robert W. Baird increased their price target on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. BMO Capital Markets reduced their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price objective on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a report on Friday.

Insider Activity

In other news, Director Robert H. Herz sold 1,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. 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 quarter. 3.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Workiva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WK. Polar Asset Management Partners Inc. bought a new position in shares of Workiva in the fourth quarter worth approximately $5,825,000. GTS Securities LLC purchased a new position in shares of Workiva during the 4th quarter valued at $212,000. Castleark Management LLC bought a new position in Workiva in the 4th quarter worth $6,800,000. Vident Advisory LLC bought a new position in Workiva in the 4th quarter worth $240,000. Finally, Two Sigma Advisers LP raised its holdings in Workiva by 155.8% during the fourth quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker’s stock valued at $4,621,000 after acquiring an additional 25,700 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Trading Down 3.0 %

Workiva stock opened at $78.66 on Thursday. Workiva has a 12 month low of $65.47 and a 12 month high of $116.83. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -85.50 and a beta of 1.09. The business’s fifty day simple moving average is $91.56 and its two-hundred day simple moving average is $92.30.

Workiva Company Profile

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.