Workiva (NYSE:WK) Price Target Cut to $109.00 by Analysts at BMO Capital Markets

Workiva (NYSE:WK – Get Rating) had its price objective decreased by BMO Capital Markets from $127.00 to $109.00 in a report issued on Wednesday, The Fly reports. BMO Capital Markets’ price target points to a potential upside of 15.86% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus downgraded Workiva from a “buy” rating to a “hold” rating and cut their price objective for the company from $120.00 to $80.00 in a report on Wednesday. William Blair reissued an “outperform” rating on shares of Workiva in a report on Wednesday, February 23rd. Citigroup assumed coverage on Workiva in a report on Tuesday, February 1st. They issued a “buy” rating and a $135.00 price objective for the company. Robert W. Baird dropped their price target on Workiva from $190.00 to $150.00 in a research note on Wednesday, February 23rd. Finally, Zacks Investment Research cut Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $120.00.

NYSE:WK opened at $94.08 on Wednesday. Workiva has a twelve month low of $83.65 and a twelve month high of $173.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $106.15 and a two-hundred day moving average price of $121.90. The company has a market cap of $4.89 billion, a P/E ratio of -125.44 and a beta of 1.52.

Workiva (NYSE:WK – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The software maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The company had revenue of $129.60 million during the quarter, compared to the consensus estimate of $127.42 million. Workiva had a negative return on equity of 39.05% and a negative net margin of 8.51%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, analysts anticipate that Workiva will post -1.91 earnings per share for the current fiscal year.

In other Workiva news, Director Robert H. Herz sold 1,500 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $95.71, for a total transaction of $143,565.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mithun Banarjee sold 7,042 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total value of $716,382.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,975 shares of company stock worth $1,271,908. 12.25% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Workiva by 1,215.3% in the third quarter. Invesco Ltd. now owns 1,270,783 shares of the software maker’s stock worth $179,130,000 after purchasing an additional 1,174,169 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Workiva in the fourth quarter worth $93,153,000. Riverbridge Partners LLC increased its position in shares of Workiva by 23.9% in the first quarter. Riverbridge Partners LLC now owns 1,876,827 shares of the software maker’s stock worth $221,466,000 after purchasing an additional 362,293 shares during the period. Norges Bank bought a new position in shares of Workiva in the fourth quarter worth $46,096,000. Finally, William Blair Investment Management LLC increased its position in shares of Workiva by 28.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,467,050 shares of the software maker’s stock worth $191,435,000 after purchasing an additional 328,993 shares during the period. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Workiva Company Profile (Get Rating)

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.

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