Workiva (NYSE:WK) Hits New 1-Year Low at $76.63

Workiva Inc. (NYSE:WK) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $76.63 and last traded at $77.21, with a volume of 10230 shares trading hands. The stock had previously closed at $78.19.

Analysts Set New Price Targets

WK has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Workiva from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets decreased their price target on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus lowered their price target on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $113.50.

Workiva Price Performance

The firm’s fifty day simple moving average is $85.08 and its 200-day simple moving average is $92.23.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities research analysts expect that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the transaction, the executive vice president now owns 62,453 shares of the company’s stock, valued at $5,846,849.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Workiva

Hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC increased its position in Workiva by 4.5% during the third quarter. William Blair Investment Management LLC now owns 354,524 shares of the software maker’s stock worth $35,927,000 after buying an additional 15,351 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Workiva by 9.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 417,216 shares of the software maker’s stock valued at $42,281,000 after purchasing an additional 36,414 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Workiva by 31.9% in the third quarter. Envestnet Asset Management Inc. now owns 237,690 shares of the software maker’s stock valued at $24,088,000 after purchasing an additional 57,533 shares during the period. Vanguard Group Inc. grew its position in shares of Workiva by 1.3% in the third quarter. Vanguard Group Inc. now owns 4,953,125 shares of the software maker’s stock valued at $501,950,000 after purchasing an additional 63,464 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Workiva by 11.0% in the third quarter. New York State Common Retirement Fund now owns 397,350 shares of the software maker’s stock valued at $40,267,000 after purchasing an additional 39,310 shares during the period. Hedge funds and other institutional investors 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.