Workiva (NYSE:WK) Price Target Cut to $95.00

Workiva (NYSE:WK) had its target price cut by equities research analysts at Citigroup from $110.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s target price would suggest a potential upside of 18.65% from the stock’s current price.

Several other brokerages have also issued reports on WK. Stifel Nicolaus cut their target price on Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets cut their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.63.

Workiva Trading Down 0.3 %

Shares of NYSE WK opened at $80.07 on Tuesday. Workiva has a 12 month low of $76.63 and a 12 month high of $116.00. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -33.78 and a beta of 1.03. The business has a 50-day moving average of $83.95 and a 200-day moving average of $91.62.

Workiva (NYSE:WK) last issued its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.10. The business had revenue of $166.65 million for the quarter, compared to analysts’ expectations of $164.44 million. On average, analysts predict that Workiva will post -0.91 earnings per share for the current year.

Insider Activity

In other news, EVP Michael D. Hawkins sold 11,439 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.71% of the company’s stock.

Institutional Trading of Workiva

A number of institutional investors have recently made changes to their positions in WK. Mackenzie Financial Corp raised its holdings in shares of Workiva by 3.8% during the fourth quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock valued at $302,000 after acquiring an additional 108 shares in the last quarter. Wealth Alliance raised its holdings in shares of Workiva by 4.8% during the fourth quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock valued at $266,000 after acquiring an additional 121 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Workiva by 7.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock valued at $168,000 after acquiring an additional 132 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Workiva by 2.7% during the third quarter. Victory Capital Management Inc. now owns 5,201 shares of the software maker’s stock valued at $527,000 after acquiring an additional 136 shares in the last quarter. Finally, Foster Group Inc. raised its holdings in shares of Workiva by 3.3% during the third quarter. Foster Group Inc. now owns 4,368 shares of the software maker’s stock valued at $443,000 after acquiring an additional 139 shares in the last quarter. 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.