Workiva (NYSE:WK) Given New $128.00 Price Target at Citigroup

Workiva (NYSE:WK) had its target price increased by Citigroup from $116.00 to $128.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the software maker’s stock.

A number of other brokerages have also commented on WK. Stifel Nicolaus lifted their price target on shares of Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Robert W. Baird lifted their target price on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets upped their price target on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $111.80.

Workiva Price Performance

NYSE:WK opened at $105.52 on Monday. Workiva has a one year low of $65.47 and a one year high of $106.41. The company has a market cap of $5.84 billion, a PE ratio of -114.70 and a beta of 1.09. The firm’s 50 day simple moving average is $89.86 and its 200 day simple moving average is $80.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake 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 purchasing an additional 137 shares during the period. Quarry LP boosted its holdings in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Workiva by 8.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after buying an additional 179 shares during the period. Xponance Inc. increased its stake in shares of Workiva by 6.0% in the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock valued at $233,000 after acquiring an additional 182 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Workiva by 3.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock valued at $358,000 after acquiring an additional 183 shares during the period. 92.21% of the stock is owned by institutional investors.

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.