The Goldman Sachs Group Cuts Workiva (NYSE:WK) Price Target to $118.00

Workiva (NYSE:WK) had its price target decreased by The Goldman Sachs Group from $132.00 to $118.00 in a research report report published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

WK has been the topic of a number of other research reports. BMO Capital Markets cut their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their target price on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird raised their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Stephens initiated coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Workiva Stock Performance

NYSE WK opened at $78.66 on Friday. The stock has a market cap of $4.41 billion, a P/E ratio of -85.50 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. The stock has a 50 day simple moving average of $91.56 and a two-hundred day simple moving average of $92.45.

Insider Buying and Selling at Workiva

In other news, 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 owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by insiders.

Institutional Trading of Workiva

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares during the last quarter. World Investment Advisors grew its stake in shares of Workiva by 2.7% during the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock valued at $562,000 after purchasing an additional 135 shares during the period. Park Avenue Securities LLC grew its stake in shares of Workiva by 4.5% during the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock valued at $499,000 after purchasing an additional 198 shares during the period. Arizona State Retirement System increased its position in shares of Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock valued at $1,552,000 after purchasing an additional 224 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Workiva in the 4th quarter worth approximately $25,000. 92.21% of the stock is currently 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.