Workiva (NYSE:WK) Given New $118.00 Price Target at The Goldman Sachs Group

Workiva (NYSE:WK) had its price target cut by The Goldman Sachs Group from $132.00 to $118.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research analysts have also issued reports on the stock. Citigroup raised their target price on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird raised their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Stephens started coverage on Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

Workiva Stock Performance

WK opened at $78.66 on Friday. The firm has a market cap of $4.41 billion, a P/E ratio of -85.50 and a beta of 1.09. The business has a 50 day moving average price of $91.56 and a 200 day moving average price of $92.15. Workiva has a twelve month low of $65.47 and a twelve month high of $116.83.

Insider Activity

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,129 shares of company stock worth $1,807,333. Company insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Workiva during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new position in Workiva in the fourth quarter worth $66,000. GeoWealth Management LLC grew its holdings in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after purchasing an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Workiva by 14,650.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after buying an additional 116 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

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.