Brokerages Set Workiva Inc. (NYSE:WK) Price Target at $113.50

Workiva Inc. (NYSE:WK - Get Free Report) has received an average rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $113.50.

A number of brokerages recently commented on WK. Citigroup lowered their target price on shares of Workiva from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets cut their price target on shares of Workiva from $123.00 to $113.00 and set an "outperform" rating for the company in a report on Wednesday, February 21st. Finally, Stifel Nicolaus cut their price target on shares of Workiva from $92.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, February 21st.

Workiva Stock Performance

WK stock traded up $1.14 during midday trading on Thursday, reaching $80.53. The stock had a trading volume of 322,459 shares, compared to its average volume of 391,554. The stock has a market cap of $4.41 billion, a PE ratio of -33.98 and a beta of 1.03. The firm has a fifty day simple moving average of $86.29 and a two-hundred day simple moving average of $92.92. Workiva has a 52-week low of $78.50 and a 52-week high of $116.00.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analysts' expectations of $164.44 million. On average, sell-side analysts predict that Workiva will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 11,439 shares of Workiva stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the transaction, the executive vice president now owns 62,453 shares of the company's stock, valued at approximately $5,846,849.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.71% of the company's stock.

Hedge Funds Weigh In On Workiva

A number of institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in shares of Workiva by 3.8% in the fourth quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker's stock valued at $302,000 after purchasing an additional 108 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Workiva by 5.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,069 shares of the software maker's stock worth $210,000 after acquiring an additional 108 shares in the last quarter. Wealth Alliance increased its stake in shares of Workiva by 4.8% in the fourth quarter. Wealth Alliance now owns 2,620 shares of the software maker's stock worth $266,000 after buying an additional 121 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Workiva by 7.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker's stock valued at $168,000 after acquiring an additional 132 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Workiva by 2.7% in the third quarter. Victory Capital Management Inc. now owns 5,201 shares of the software maker's stock valued at $527,000 after acquiring an additional 136 shares in the last quarter. 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.