BMO Capital Markets Has Lowered Expectations for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK) had its price objective cut by stock analysts at BMO Capital Markets from $120.00 to $108.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price target would indicate a potential upside of 22.91% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. The Goldman Sachs Group upped their price target on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Citigroup lifted their price objective on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus decreased their target price on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird boosted their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.57.

Workiva Trading Down 1.6 %

Shares of WK stock opened at $87.87 on Wednesday. Workiva has a 12-month low of $65.47 and a 12-month high of $116.83. The business’s 50 day moving average is $101.95 and its two-hundred day moving average is $90.83. The company has a market capitalization of $4.87 billion, a P/E ratio of -95.51 and a beta of 1.06.

Hedge Funds Weigh In On Workiva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning boosted its position in Workiva by 73.5% during the third quarter. Creative Planning now owns 11,929 shares of the software maker’s stock worth $944,000 after purchasing an additional 5,053 shares in the last quarter. International Assets Investment Management LLC raised its position in Workiva by 6,373.4% during the third quarter. International Assets Investment Management LLC now owns 9,257 shares of the software maker’s stock worth $732,000 after acquiring an additional 9,114 shares during the last quarter. US Bancorp DE increased its stake in shares of Workiva by 58.3% during the 3rd quarter. US Bancorp DE now owns 23,431 shares of the software maker’s stock worth $1,854,000 after purchasing an additional 8,632 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Workiva by 16.5% during the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock worth $12,547,000 after purchasing an additional 22,500 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after purchasing an additional 19,095 shares during the last quarter. Institutional investors and hedge funds 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.