Workiva (NYSE:WK) PT Lowered to $120.00 at Robert W. Baird

Workiva (NYSE:WKGet Rating) had its price target lowered by equities research analysts at Robert W. Baird from $150.00 to $120.00 in a research note issued on Wednesday, The Fly reports. Robert W. Baird’s price objective suggests a potential upside of 27.55% from the company’s previous close.

Several other equities analysts have also recently commented on WK. StockNews.com initiated coverage on Workiva in a research note on Thursday, March 31st. They set a “hold” rating for the company. Citigroup initiated coverage on Workiva in a research note on Tuesday, February 1st. They set a “buy” rating and a $135.00 target price for the company. Zacks Investment Research cut Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. BMO Capital Markets reduced their price objective on Workiva from $127.00 to $109.00 in a research note on Wednesday. Finally, Stifel Nicolaus cut Workiva from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $120.00 to $80.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $120.00.

Shares of NYSE:WK opened at $94.08 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Workiva has a 52-week low of $83.65 and a 52-week high of $173.24. The company has a 50 day moving average of $106.15 and a two-hundred day moving average of $121.90. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -125.44 and a beta of 1.52.

Workiva (NYSE:WKGet Rating) last released its earnings results on Tuesday, May 3rd. The software maker reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.10. The company had revenue of $129.60 million during the quarter, compared to analysts’ expectations of $127.42 million. Workiva had a negative return on equity of 39.05% and a negative net margin of 8.51%. The business’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities analysts anticipate that Workiva will post -1.91 earnings per share for the current year.

In other news, EVP Michael D. Hawkins sold 3,433 shares of the firm’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $120.00, for a total transaction of $411,960.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert H. Herz sold 1,500 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $95.71, for a total value of $143,565.00. The disclosure for this sale can be found here. Insiders have sold 11,975 shares of company stock worth $1,271,908 over the last 90 days. 12.25% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC grew its holdings in Workiva by 182.4% during the third quarter. Gotham Asset Management LLC now owns 11,033 shares of the software maker’s stock worth $1,555,000 after acquiring an additional 7,126 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Workiva by 5.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,964 shares of the software maker’s stock worth $2,997,000 after acquiring an additional 1,156 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Workiva during the fourth quarter worth about $93,153,000. Wellington Management Group LLP acquired a new position in Workiva during the third quarter worth about $28,722,000. Finally, UBS Group AG grew its holdings in Workiva by 54.7% during the third quarter. UBS Group AG now owns 251,445 shares of the software maker’s stock worth $35,444,000 after acquiring an additional 88,921 shares during the period. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

About Workiva (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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