Workiva (NYSE:WK) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Workiva (NYSE:WKFree Report) from a hold rating to a buy rating in a research note published on Tuesday morning.

Other analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating on the stock in a report on Wednesday, February 21st. William Blair reissued an outperform rating on shares of Workiva in a report on Friday, May 3rd. BMO Capital Markets reissued an outperform rating and set a $96.00 price target on shares of Workiva in a report on Tuesday. Finally, Citigroup lowered their price target on shares of Workiva from $110.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Workiva currently has an average rating of Moderate Buy and a consensus price target of $109.43.

Check Out Our Latest Analysis on Workiva

Workiva Price Performance

WK stock opened at $74.17 on Tuesday. The firm’s fifty day simple moving average is $79.83 and its 200-day simple moving average is $88.07. The company has a market capitalization of $4.07 billion, a P/E ratio of -43.12 and a beta of 1.07. Workiva has a 12 month low of $73.32 and a 12 month high of $116.00.

Workiva (NYSE:WKGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). The business had revenue of $175.67 million during the quarter, compared to analysts’ expectations of $173.85 million. As a group, sell-side analysts forecast that Workiva will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the transaction, the executive vice president now directly owns 55,487 shares in the company, valued at $4,519,971.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workiva

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of Workiva in the first quarter valued at about $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Workiva in the first quarter valued at about $45,000. SG Americas Securities LLC acquired a new stake in shares of Workiva in the fourth quarter valued at about $107,000. RiverPark Advisors LLC raised its position in shares of Workiva by 361.5% in the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after buying an additional 893 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in Workiva during the third quarter worth about $162,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Workiva

(Get Free Report)

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.

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