Workiva (NYSE:WK) Hits New 12-Month High Following Analyst Upgrade

Workiva Inc. (NYSE:WK) shares hit a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $116.00 to $128.00. Citigroup currently has a buy rating on the stock. Workiva traded as high as $107.49 and last traded at $107.45, with a volume of 47724 shares traded. The stock had previously closed at $105.42.

WK has been the subject of several other research reports. Stifel Nicolaus raised their price target on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. BMO Capital Markets increased 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. Finally, Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment purchased a new stake in Workiva in the 3rd quarter worth approximately $381,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Workiva in the 3rd quarter valued at $18,000,000. Janus Henderson Group PLC boosted its holdings in Workiva by 839.8% during the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after buying an additional 191,078 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Workiva by 435.5% during the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock worth $11,503,000 after buying an additional 118,234 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Workiva by 13.5% during the third quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after buying an additional 86,746 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Price Performance

The business’s fifty day simple moving average is $89.86 and its two-hundred day simple moving average is $80.21. The company has a market cap of $6.05 billion, a PE ratio of -118.79 and a beta of 1.09.

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.