The Goldman Sachs Group Lowers Workiva (NYSE:WK) Price Target to $105.00

Workiva (NYSE:WK) had its target price dropped by equities research analysts at The Goldman Sachs Group from $118.00 to $105.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 55.47% from the stock’s previous close.

A number of other brokerages have also issued reports on WK. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research report on Friday, January 3rd. Truist Financial reduced their target price on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. BMO Capital Markets lowered their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Workiva currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Workiva Stock Up 0.2 %

Shares of NYSE:WK opened at $67.54 on Thursday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -73.41 and a beta of 1.02. The business has a 50 day moving average price of $80.63 and a 200 day moving average price of $91.11. Workiva has a twelve month low of $60.50 and a twelve month high of $116.83.

Insider Activity at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the completion of the sale, the chief financial officer now owns 119,054 shares of the company’s stock, valued at approximately $10,124,352.16. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at $8,872,791.48. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock valued at $1,807,333 in the last 90 days. 3.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workiva

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after purchasing an additional 35,029 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Workiva during the third quarter valued at $168,000. World Investment Advisors LLC bought a new position in Workiva in the third quarter valued at about $396,000. Nordea Investment Management AB acquired a new stake in Workiva in the fourth quarter worth about $59,894,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Workiva by 6.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,060 shares of the software maker’s stock worth $992,000 after purchasing an additional 537 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

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.