Workiva (NYSE:WK) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Workiva (NYSE:WK) from a market perform rating to an outperform rating in a research report released on Friday, MarketBeat Ratings reports. Raymond James currently has $135.00 price target on the software maker’s stock.

A number of other brokerages also recently issued reports on WK. BMO Capital Markets boosted their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Citigroup raised their price objective on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Stifel Nicolaus upgraded Workiva from a “hold” rating to a “buy” rating and boosted their target price for the stock from $102.00 to $130.00 in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.33.

Workiva Stock Performance

Shares of Workiva stock opened at $111.35 on Friday. The company has a 50-day simple moving average of $98.68 and a two-hundred day simple moving average of $83.63. Workiva has a 52-week low of $65.47 and a 52-week high of $116.83. The stock has a market capitalization of $6.17 billion, a PE ratio of -121.03 and a beta of 1.09.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in WK. Principal Financial Group Inc. grew its holdings in Workiva by 2.0% during the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock worth $498,000 after acquiring an additional 137 shares during the period. Rhumbline Advisers grew its position in shares of Workiva by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 74,660 shares of the software maker’s stock valued at $5,449,000 after acquiring an additional 2,494 shares during the period. Arizona State Retirement System increased its stake in shares of Workiva by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 13,532 shares of the software maker’s stock valued at $988,000 after purchasing an additional 425 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Workiva by 7.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,959 shares of the software maker’s stock worth $216,000 after purchasing an additional 217 shares during the period. Finally, Quest Partners LLC lifted its holdings in Workiva by 44,933.3% during the second quarter. Quest Partners LLC now owns 2,702 shares of the software maker’s stock valued at $197,000 after purchasing an additional 2,696 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

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.