Analysts Set Workiva Inc. (NYSE:WK) Price Target at $95.00

Shares of Workiva Inc. (NYSE:WK) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $95.00.

WK has been the topic of a number of recent research reports. Northland Securities cut their price objective on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WK. V Square Quantitative Management LLC purchased a new stake in shares of Workiva during the 3rd quarter worth approximately $28,000. Quarry LP raised its stake in Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after acquiring an additional 166 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Workiva in the first quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new position in Workiva in the first quarter valued at $45,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Workiva during the second quarter worth about $62,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Price Performance

Shares of NYSE:WK opened at $79.17 on Monday. The firm has a market capitalization of $4.37 billion, a PE ratio of -47.98 and a beta of 1.05. Workiva has a 1 year low of $65.47 and a 1 year high of $105.00. The firm’s 50-day moving average is $77.87 and its two-hundred day moving average is $76.91.

Workiva (NYSE:WK) last announced its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $177.50 million for the quarter, compared to analysts’ expectations of $175.22 million. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that Workiva will post -0.86 EPS for the current fiscal year.

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.