Workiva (NYSE:WK) Hits New 1-Year Low at $80.18

Workiva Inc. (NYSE:WK - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.18 and last traded at $80.28, with a volume of 105842 shares trading hands. The stock had previously closed at $84.37.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup dropped their target price on Workiva from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus dropped their target price on Workiva from $92.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, February 21st. Finally, BMO Capital Markets dropped their target price on Workiva from $123.00 to $113.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.50.

Workiva Stock Performance

The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -33.47 and a beta of 1.03. The company has a 50-day simple moving average of $86.59 and a two-hundred day simple moving average of $93.00.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. As a group, sell-side analysts predict that Workiva Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 11,439 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the transaction, the executive vice president now directly owns 62,453 shares of the company's stock, valued at approximately $5,846,849.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC bought a new stake in Workiva in the 2nd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in Workiva in the 4th quarter valued at $28,000. Belpointe Asset Management LLC boosted its stake in Workiva by 133.8% in the 1st quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker's stock valued at $35,000 after purchasing an additional 198 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Workiva in the 3rd quarter valued at $54,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Workiva during the 1st quarter valued at $82,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.