Workiva Inc. (NYSE:WK) Given Average Rating of “Moderate Buy” by Brokerages

Workiva Inc. (NYSE:WK) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $95.00.

Several brokerages recently commented on WK. Citigroup lifted their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Northland Securities cut their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped their price objective on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. BMO Capital Markets reissued an “outperform” rating and set a $96.00 price objective on shares of Workiva in a research report on Tuesday, June 11th. Finally, StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its holdings in Workiva by 57.8% in the second quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Workiva in the 1st quarter worth $40,000. Fidelis Capital Partners LLC bought a new stake in shares of Workiva in the first quarter worth $45,000. Point72 Hong Kong Ltd bought a new position in Workiva in the second quarter valued at about $62,000. Finally, RiverPark Advisors LLC grew its stake in shares of Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after purchasing an additional 893 shares during the period. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of Workiva stock opened at $77.61 on Thursday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -45.12 and a beta of 1.05. The company has a fifty day moving average of $75.95 and a 200-day moving average of $77.33. Workiva has a 52-week low of $65.47 and a 52-week high of $105.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $177.50 million during the quarter, compared to analysts’ expectations of $175.22 million. During the same quarter in the prior year, the business earned ($0.36) earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that Workiva will post -0.86 earnings per share for the current fiscal year.

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.