The Goldman Sachs Group Lowers Workiva (NYSE:WK) Price Target to $118.00

Workiva (NYSE:WK) had its price objective cut by investment analysts at The Goldman Sachs Group from $132.00 to $118.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 50.01% from the company’s previous close.

A number of other brokerages have also commented on WK. Stifel Nicolaus lowered their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Citigroup raised their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets reduced their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Stephens began coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Workiva Price Performance

NYSE WK opened at $78.66 on Friday. The stock’s 50 day simple moving average is $91.56 and its 200 day simple moving average is $92.30. Workiva has a one year low of $65.47 and a one year high of $116.83. The firm has a market cap of $4.41 billion, a PE ratio of -85.50 and a beta of 1.09.

Insider Buying and Selling at Workiva

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the sale, the chief financial officer now owns 119,054 shares in the company, valued at $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at $8,872,791.48. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workiva

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Workiva during the third quarter valued at approximately $862,000. Charles Schwab Investment Management Inc. increased its position in shares of Workiva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 423,782 shares of the software maker’s stock valued at $33,530,000 after purchasing an additional 6,422 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Workiva by 431.1% during the 3rd quarter. Quantbot Technologies LP now owns 20,064 shares of the software maker’s stock worth $1,587,000 after purchasing an additional 16,286 shares during the period. FORA Capital LLC purchased a new position in shares of Workiva in the 3rd quarter worth about $479,000. Finally, Verition Fund Management LLC boosted its holdings in shares of Workiva by 241.4% in the 3rd quarter. Verition Fund Management LLC now owns 20,461 shares of the software maker’s stock worth $1,619,000 after buying an additional 14,467 shares during the last quarter. 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.