Workiva (NYSE:WK) Earns Overweight Rating from Analysts at Stephens

Analysts at Stephens assumed coverage on shares of Workiva (NYSE:WK) in a research report issued on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $111.00 price target on the software maker’s stock. Stephens’ price objective would suggest a potential upside of 25.84% from the stock’s current price.

Several other analysts also recently commented on the stock. Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. Stifel Nicolaus decreased their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Stock Performance

Shares of WK opened at $88.21 on Wednesday. The company’s 50 day moving average price is $94.70 and its 200 day moving average price is $91.76. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The company has a market capitalization of $4.95 billion, a PE ratio of -95.88 and a beta of 1.09.

Insider Activity at Workiva

In other Workiva news, 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 in the company, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last ninety days. Company insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

A number of hedge funds and other institutional investors have recently made changes to their positions in WK. Twin Tree Management LP bought a new position in shares of Workiva in the fourth quarter valued at $25,000. Johnson Financial Group Inc. bought a new position in shares of Workiva in the fourth quarter valued at $66,000. GeoWealth Management LLC grew its stake in shares of Workiva by 3,010.0% in the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after buying an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted 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 worth $159,000 after purchasing an additional 116 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.