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

Shares of Workiva Inc. (NYSE:WK) have earned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $106.30.

A number of brokerages have recently issued reports on WK. Truist Financial lowered their price target on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. BNP Paribas began coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Stephens reiterated an “overweight” rating and issued a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd.

Insider Activity

In other news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction 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 transaction, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. This represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WK. Eminence Capital LP purchased a new position in shares of Workiva during the 1st quarter worth approximately $64,903,000. Alliancebernstein L.P. lifted its stake in Workiva by 1,177.5% during the first quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker’s stock worth $59,220,000 after purchasing an additional 719,062 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Workiva by 32.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker’s stock worth $215,184,000 after purchasing an additional 686,702 shares in the last quarter. Norges Bank purchased a new position in shares of Workiva during the fourth quarter worth $59,676,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Workiva in the fourth quarter valued at $51,353,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of NYSE:WK opened at $69.65 on Tuesday. The business’s 50 day moving average price is $68.80 and its 200-day moving average price is $87.57. Workiva has a 1 year low of $60.50 and a 1 year high of $116.83. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -75.70 and a beta of 0.88.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to analysts’ expectations of $204.24 million. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, sell-side analysts expect that Workiva will post -0.92 earnings per share for the current year.

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.