Workiva (NYSE:WK) Upgraded to Buy at Stifel Nicolaus

Workiva (NYSE:WK) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $130.00 price objective on the software maker’s stock, up from their previous price objective of $102.00. Stifel Nicolaus’ price objective would indicate a potential upside of 16.72% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Robert W. Baird boosted their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup boosted their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BMO Capital Markets increased 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.40.

Workiva Stock Performance

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC bought a new position in Workiva in the third quarter worth approximately $396,000. Sanctuary Advisors LLC purchased a new stake in Workiva in the third quarter worth about $168,000. Geode Capital Management LLC raised its stake in shares of Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after buying an additional 35,029 shares during the period. Groupama Asset Managment purchased a new position in shares of Workiva during the 3rd quarter valued at about $381,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of Workiva during the 3rd quarter valued at approximately $921,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.