Workiva Inc. (NYSE:WK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Workiva Inc. (NYSE:WK) have been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $95.00.

A number of research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, June 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $96.00 target price on shares of Workiva in a report on Tuesday, June 11th. StockNews.com lowered shares of Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities reduced their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird dropped their target price on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a report on Thursday, June 27th.

Insider Activity

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now owns 49,887 shares in the company, valued at $3,721,570.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in shares of Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after acquiring an additional 166 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Workiva during the 1st quarter worth $40,000. Fidelis Capital Partners LLC purchased a new position in Workiva in the first quarter worth $45,000. Point72 Hong Kong Ltd purchased a new stake in Workiva during the second quarter valued at about $62,000. Finally, RiverPark Advisors LLC lifted its stake in Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after purchasing an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of NYSE WK opened at $77.61 on Thursday. Workiva has a one year low of $65.47 and a one year high of $105.00. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -45.12 and a beta of 1.05. The stock’s fifty day moving average price is $75.95 and its two-hundred day moving average price is $77.33.

Workiva (NYSE:WK) last released its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. During the same quarter in the prior year, the business posted ($0.36) earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Workiva will post -0.86 earnings per share for the current fiscal 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.