Workiva Inc. (NYSE:WK) Receives $111.80 Consensus Price Target from Analysts

Workiva Inc. (NYSE:WK) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $117.40.

Several brokerages have commented on WK. BMO Capital Markets raised their price objective on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup lifted their price objective on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird lifted their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and increased their target price for the company from $102.00 to $130.00 in a research report on Wednesday.

Institutional Investors Weigh In On Workiva

Hedge funds and other institutional investors have recently modified their holdings of the company. Groupama Asset Managment acquired a new stake in Workiva during the 3rd quarter worth approximately $381,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Workiva during the third quarter worth about $18,000,000. Janus Henderson Group PLC raised its position in shares of Workiva by 839.8% in the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock valued at $16,919,000 after purchasing an additional 191,078 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Workiva by 435.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock valued at $11,503,000 after acquiring an additional 118,234 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Workiva by 13.5% during the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock worth $57,629,000 after purchasing an additional 86,746 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Up 1.2 %

Shares of NYSE WK opened at $111.38 on Tuesday. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The business has a 50-day simple moving average of $91.16 and a two-hundred day simple moving average of $80.65. The company has a market cap of $6.17 billion, a P/E ratio of -121.07 and a beta of 1.09.

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.