Workiva (NYSE:WK) Shares Gap Up to $80.04

Workiva Inc. (NYSE:WK - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $80.04, but opened at $87.55. Workiva shares last traded at $83.09, with a volume of 177,033 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reduced their price objective on Workiva from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, April 23rd. Stifel Nicolaus decreased their target price on shares of Workiva from $92.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, February 21st. Finally, BMO Capital Markets dropped their price target on Workiva from $123.00 to $113.00 and set an "outperform" rating for the company 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.63.

Workiva Price Performance

The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -35.86 and a beta of 1.04. The business has a fifty day moving average of $82.45 and a 200 day moving average of $90.78.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. On average, equities research analysts expect that Workiva Inc. will post -0.91 EPS for the current year.

Institutional Trading of Workiva

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its position in shares of Workiva by 11.4% during the fourth quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker's stock worth $44,946,000 after purchasing an additional 45,334 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Workiva by 4.5% in the third quarter. William Blair Investment Management LLC now owns 354,524 shares of the software maker's stock valued at $35,927,000 after buying an additional 15,351 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Workiva by 9.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 417,216 shares of the software maker's stock worth $42,281,000 after acquiring an additional 36,414 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Workiva by 31.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,690 shares of the software maker's stock worth $24,088,000 after acquiring an additional 57,533 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Workiva by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,953,125 shares of the software maker's stock worth $501,950,000 after acquiring an additional 63,464 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.