BNP Paribas Initiates Coverage on Workiva (NYSE:WK)

BNP Paribas assumed coverage on shares of Workiva (NYSE:WK - Free Report) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $100.00 price objective on the software maker's stock.

A number of other brokerages also recently weighed in on WK. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Raymond James raised Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a report on Friday, January 3rd. BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Citigroup upped their target price on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $112.90.

Workiva Stock Up 1.2 %

Shares of NYSE:WK traded up $0.87 during trading on Tuesday, hitting $73.51. 269,461 shares of the stock traded hands, compared to its average volume of 496,365. The company has a fifty day moving average price of $78.64 and a two-hundred day moving average price of $90.94. Workiva has a 52-week low of $60.50 and a 52-week high of $116.83. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -79.90 and a beta of 1.02.

Insider Buying and Selling

In other news, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The stock was 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 in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the company'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 completion of the sale, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WK. Norges Bank acquired a new stake in shares of Workiva during the 4th quarter worth about $59,676,000. Nordea Investment Management AB acquired a new position in Workiva in the fourth quarter valued at about $59,894,000. Arrowstreet Capital Limited Partnership purchased a new position in Workiva during the fourth quarter worth about $51,353,000. Point72 Asset Management L.P. acquired a new stake in shares of Workiva during the fourth quarter valued at about $32,863,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Workiva by 10.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock valued at $235,209,000 after acquiring an additional 200,220 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.