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

Shares of Workiva Inc. (NYSE:WK) have been given a consensus recommendation of “Buy” by the ten brokerages that are covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $114.33.

A number of research analysts recently commented on WK shares. Stephens started coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets cut their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Truist Financial lowered their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Raymond James raised 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.

Workiva Price Performance

NYSE:WK opened at $67.54 on Monday. The stock has a market cap of $3.79 billion, a PE ratio of -73.41 and a beta of 1.02. Workiva has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The stock’s 50-day moving average is $80.63 and its two-hundred day moving average is $91.30.

Insiders Place Their Bets

In related news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares in the company, 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 over the last 90 days. 3.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workiva

Several hedge funds have recently modified their holdings of WK. Twin Tree Management LP bought a new position in Workiva during the fourth quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in shares of Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after purchasing an additional 360 shares during the period. Global Wealth Strategies & Associates acquired a new position in shares of Workiva in the first quarter valued at $53,000. Johnson Financial Group Inc. bought a new position in Workiva in the fourth quarter worth $66,000. Finally, GeoWealth Management LLC boosted its stake in Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after buying an additional 602 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.