Workiva Inc. (NYSE:WK) Receives $120.25 Consensus Target Price from Analysts

Workiva Inc. (NYSE:WK) has received an average recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $118.38.

WK has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. The Goldman Sachs Group dropped their price target on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a research note on Friday. Stephens initiated coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price objective on the stock. Citigroup boosted their price target on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th.

Workiva Stock Performance

Shares of NYSE:WK opened at $78.66 on Thursday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -85.50 and a beta of 1.09. The firm has a fifty day moving average price of $91.56 and a 200 day moving average price of $92.30. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $116.83.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the completion of the transaction, the chief financial officer now owns 119,054 shares in the company, valued at $10,124,352.16. The trade was a 4.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock valued at $1,807,333 in the last 90 days. Company insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Several hedge funds and other institutional investors have recently made changes to their positions in WK. Twin Tree Management LP acquired a new position in Workiva during the 4th quarter valued at about $25,000. Johnson Financial Group Inc. acquired a new position in shares of Workiva during the fourth quarter valued at about $66,000. GeoWealth Management LLC raised its position in shares of Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after purchasing an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after purchasing an additional 879 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.