Workiva Inc. (NYSE:WK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Workiva Inc. (NYSE:WK) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.20.

A number of equities analysts have recently issued reports on WK shares. Stifel Nicolaus raised their target price on shares of Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price objective on shares of Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Northland Securities reduced their target price on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets raised their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd.

Insider Activity at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction 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 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Workiva

Several institutional investors have recently made changes to their positions in the stock. Versor Investments LP acquired a new stake in shares of Workiva in the 3rd quarter worth approximately $1,217,000. TimesSquare Capital Management LLC boosted its position in Workiva by 4.3% during the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after purchasing an additional 19,095 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Workiva in the first quarter valued at $1,629,000. Comerica Bank increased its position in shares of Workiva by 23.8% in the first quarter. Comerica Bank now owns 87,999 shares of the software maker’s stock valued at $7,462,000 after buying an additional 16,943 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Workiva by 15.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 76,702 shares of the software maker’s stock worth $6,502,000 after buying an additional 10,380 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Up 2.5 %

NYSE:WK opened at $94.53 on Friday. The company has a market capitalization of $5.24 billion, a PE ratio of -102.75 and a beta of 1.05. Workiva has a 52-week low of $65.47 and a 52-week high of $105.00. The stock’s 50 day moving average price is $82.16 and its 200 day moving average price is $78.02.

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.