Truist Financial Issues Pessimistic Forecast for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK) had its target price cut by research analysts at Truist Financial from $120.00 to $95.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Truist Financial’s price target suggests a potential upside of 54.82% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BMO Capital Markets decreased their price target 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. Stifel Nicolaus lowered their target price on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Stephens started coverage on Workiva in a research report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 target price for the company. The Goldman Sachs Group decreased their price target on Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Citigroup boosted their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.78.

Workiva Stock Down 7.0 %

Shares of NYSE WK opened at $61.36 on Monday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -66.70 and a beta of 1.02. Workiva has a 12-month low of $60.50 and a 12-month high of $116.83. The firm’s 50-day simple moving average is $86.15 and its 200 day simple moving average is $91.94.

Insider Activity at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company’s stock, 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 can be accessed through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was 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 Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WK. Twin Tree Management LP acquired a new stake in shares of Workiva during the fourth quarter worth $25,000. Global Wealth Strategies & Associates bought a new position in Workiva during the 1st quarter worth about $53,000. Johnson Financial Group Inc. acquired a new stake in shares of Workiva in the 4th quarter valued at about $66,000. GeoWealth Management LLC lifted its holdings 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 purchasing an additional 602 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock worth $97,000 after buying an additional 879 shares during the period. 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.