Workiva (NYSE:WK) Given "Overweight" Rating at Stephens

Workiva (NYSE:WK - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $95.00 target price on the software maker's stock. Stephens' target price indicates a potential upside of 38.97% from the company's previous close.

Several other research analysts have also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Truist Financial lowered their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Citigroup raised their target price on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Raymond James dropped their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.30.

Workiva Trading Down 3.6%

WK stock opened at $68.36 on Thursday. The stock's fifty day simple moving average is $72.92 and its two-hundred day simple moving average is $89.71. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The stock has a market cap of $3.84 billion, a P/E ratio of -74.27 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts forecast that Workiva will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares of the company's stock, valued at $10,124,352.16. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at $5,236,688.14. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workiva

Several hedge funds have recently made changes to their positions in WK. Eminence Capital LP purchased a new stake in Workiva during the 1st quarter worth $64,903,000. Alliancebernstein L.P. raised its stake in shares of Workiva by 1,177.5% in the 1st quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock worth $59,220,000 after buying an additional 719,062 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Workiva by 32.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker's stock valued at $215,184,000 after acquiring an additional 686,702 shares during the last quarter. Norges Bank bought a new stake in Workiva during the fourth quarter worth approximately $59,676,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Workiva during the fourth quarter worth $51,353,000. Institutional investors and hedge funds 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.

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