Workiva Inc. (NYSE:WK) Given Average Recommendation of “Moderate Buy” by Brokerages

Workiva Inc. (NYSE:WK) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $103.20.

Several brokerages recently commented on WK. Northland Securities dropped their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Robert W. Baird boosted their price target on shares of Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Workiva Stock Performance

Workiva stock opened at $94.53 on Friday. The company’s fifty day moving average price is $82.16 and its 200 day moving average price is $78.02. The stock has a market capitalization of $5.24 billion, a P/E ratio of -102.75 and a beta of 1.05. Workiva has a 1 year low of $65.47 and a 1 year high of $105.00.

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 shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

Hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its position in shares of Workiva by 9.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,260 shares of the software maker’s stock worth $1,294,000 after purchasing an additional 1,290 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Workiva by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after buying an additional 181,520 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Workiva by 15.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 76,702 shares of the software maker’s stock worth $6,502,000 after acquiring an additional 10,380 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Workiva in the 1st quarter valued at about $40,000. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of Workiva during the 1st quarter worth about $226,000. 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.