Workiva (NYSE:WK) Given New $118.00 Price Target at The Goldman Sachs Group

Workiva (NYSE:WK) had its price target lowered by The Goldman Sachs Group from $132.00 to $118.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 50.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on WK. BMO Capital Markets lowered their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird increased their price objective on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stephens started coverage on Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 target price for the company. Stifel Nicolaus cut their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Workiva Stock Down 3.0 %

WK opened at $78.66 on Friday. The firm has a 50-day moving average price of $91.56 and a 200-day moving average price of $92.30. Workiva has a twelve month low of $65.47 and a twelve 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.

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new position in shares of Workiva in the 4th quarter worth approximately $5,825,000. GTS Securities LLC purchased a new position in Workiva during the fourth quarter valued at $212,000. Castleark Management LLC bought a new stake in shares of Workiva during the 4th quarter valued at $6,800,000. Vident Advisory LLC purchased a new stake in shares of Workiva in the 4th quarter worth about $240,000. Finally, Two Sigma Advisers LP increased its stake in shares of Workiva by 155.8% in the 4th quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker’s stock worth $4,621,000 after acquiring an additional 25,700 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.