Workiva Inc. (NYSE:WK) Receives Average Rating of "Buy" from Analysts

Workiva Inc. (NYSE:WK - Get Free Report) has been given an average recommendation of "Buy" by the ten analysts that are presently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $106.30.

WK has been the topic of several research analyst reports. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Raymond James lowered their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus dropped their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reduced their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th.

Insiders Place Their Bets

In other news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.05% of the company's stock.

Hedge Funds Weigh In On Workiva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WK. Allspring Global Investments Holdings LLC acquired a new position in shares of Workiva during the 4th quarter worth $5,210,000. Legato Capital Management LLC bought a new stake in Workiva in the fourth quarter worth $226,000. Ingalls & Snyder LLC increased its position in Workiva by 3.5% during the fourth quarter. Ingalls & Snyder LLC now owns 72,819 shares of the software maker's stock worth $7,974,000 after buying an additional 2,466 shares during the last quarter. Rhumbline Advisers increased its position in Workiva by 2.2% during the fourth quarter. Rhumbline Advisers now owns 71,574 shares of the software maker's stock worth $7,837,000 after buying an additional 1,563 shares during the last quarter. Finally, Truist Financial Corp bought a new position in Workiva during the fourth quarter valued at about $211,000. Institutional investors own 92.21% of the company's stock.

Workiva Trading Down 1.1%

WK traded down $0.77 on Tuesday, reaching $68.78. The company had a trading volume of 536,239 shares, compared to its average volume of 533,268. The company has a market capitalization of $3.83 billion, a P/E ratio of -74.76 and a beta of 0.88. The company has a fifty day moving average of $68.80 and a 200-day moving average of $87.57. Workiva has a one year low of $60.50 and a one year high of $116.83.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company's revenue was up 17.4% on a year-over-year basis. Research analysts predict that Workiva will post -0.92 EPS for the current year.

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.