Workiva Inc. (NYSE:WK) Given Average Rating of “Buy” by Brokerages

Workiva Inc. (NYSE:WK) has received an average rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $120.25.

A number of research firms have recently commented on WK. Robert W. Baird raised their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus cut their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Finally, Stephens began coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price target on the stock.

Insider Activity at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 in the last three months. Corporate insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock worth $1,023,000 after purchasing an additional 5,475 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Workiva during the fourth quarter worth approximately $59,894,000. Truist Financial Corp acquired a new position in Workiva in the fourth quarter valued at approximately $211,000. Janus Henderson Group PLC lifted its holdings in Workiva by 839.8% in the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock valued at $16,919,000 after buying an additional 191,078 shares during the period. Finally, Groupama Asset Managment bought a new position in Workiva in the third quarter valued at approximately $381,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Price Performance

Shares of WK stock opened at $83.46 on Thursday. Workiva has a one year low of $65.47 and a one year high of $116.83. The stock has a fifty day moving average price of $92.88 and a 200 day moving average price of $92.19. The stock has a market cap of $4.68 billion, a P/E ratio of -90.72 and a beta of 1.09.

About Workiva

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.