Workiva Inc. (NYSE:WK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Workiva Inc. (NYSE:WK) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $111.86.

Several research analysts have recently commented on the stock. Citigroup decreased their price target on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. BMO Capital Markets decreased their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their price objective on Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st.

Workiva Stock Up 2.0 %

Shares of NYSE WK opened at $81.68 on Monday. The stock has a market capitalization of $4.47 billion, a P/E ratio of -47.49 and a beta of 1.04. The stock’s 50 day moving average price is $82.33 and its two-hundred day moving average price is $90.52. Workiva has a 52-week low of $76.63 and a 52-week high of $116.00.

Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. On average, analysts anticipate that Workiva will post -0.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund grew its stake in shares of Workiva by 11.4% in the fourth quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker’s stock worth $44,946,000 after purchasing an additional 45,334 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Workiva by 4.5% in the third quarter. William Blair Investment Management LLC now owns 354,524 shares of the software maker’s stock worth $35,927,000 after purchasing an additional 15,351 shares during the period. Charles Schwab Investment Management Inc. grew its position in Workiva by 9.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 417,216 shares of the software maker’s stock valued at $42,281,000 after buying an additional 36,414 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Workiva by 31.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,690 shares of the software maker’s stock valued at $24,088,000 after buying an additional 57,533 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Workiva by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,953,125 shares of the software maker’s stock worth $501,950,000 after buying an additional 63,464 shares in the last quarter. 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.