Workiva (NYSE:WK) Sets New 52-Week Low at $74.67

Workiva Inc. (NYSE:WKGet Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $74.67 and last traded at $75.17, with a volume of 4989 shares trading hands. The stock had previously closed at $75.33.

Analyst Ratings Changes

WK has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price target on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. BMO Capital Markets reduced their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Citigroup reduced their price target on shares of Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.86.

View Our Latest Research Report on Workiva

Workiva Stock Up 2.8 %

The stock’s fifty day simple moving average is $80.56 and its two-hundred day simple moving average is $88.71.

Workiva (NYSE:WKGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million during the quarter, compared to analysts’ expectations of $173.85 million. As a group, equities analysts expect that Workiva Inc. will post -0.62 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the sale, the executive vice president now owns 55,487 shares in the company, valued at $4,519,971.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock valued at $439,767,000 after buying an additional 181,520 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Workiva by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock valued at $156,836,000 after buying an additional 126,094 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Workiva by 58.2% during the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after buying an additional 492,945 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Workiva by 4.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock valued at $129,452,000 after purchasing an additional 51,506 shares during the period. Finally, Brown Capital Management LLC lifted its position in Workiva by 22.6% during the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after purchasing an additional 234,255 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

(Get Free Report)

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.

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