Stephens Reiterates Overweight Rating for Workiva (NYSE:WK)

Stephens restated their overweight rating on shares of Workiva (NYSE:WK - Free Report) in a research note published on Thursday,Benzinga reports. They currently have a $95.00 price target on the software maker's stock.

Several other equities research analysts have also recently commented on WK. The Goldman Sachs Group decreased their target price on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. BNP Paribas assumed coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective for the company. Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets reduced 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. Finally, Stifel Nicolaus decreased their price target on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.30.

Workiva Trading Up 0.5%

NYSE:WK traded up $0.35 on Thursday, reaching $67.51. 175,353 shares of the stock traded hands, compared to its average volume of 723,086. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of -73.36 and a beta of 0.98. Workiva has a 1-year low of $60.50 and a 1-year high of $116.83. The company's 50 day moving average is $71.64 and its 200-day moving average is $89.31.

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 firm had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities research analysts forecast that Workiva will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. This trade represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last quarter. Insiders own 4.05% of the company's stock.

Hedge Funds Weigh In On Workiva

A number of large investors have recently made changes to their positions in WK. Twin Tree Management LP bought a new stake in shares of Workiva during the fourth quarter valued at about $25,000. SVB Wealth LLC purchased a new position in Workiva during the first quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its holdings in Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Workiva during the 1st quarter valued at $39,000. Finally, Harbour Investments Inc. bought a new position in shares of Workiva in the first quarter worth $39,000. 92.21% of the stock is owned by 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.