Workiva Inc. (NYSE:WK) Receives Average Recommendation of “Buy” from Analysts

Workiva Inc. (NYSE:WK) has earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $112.90.

Several equities research analysts have recently weighed in on the stock. Truist Financial lowered their target price on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. BNP Paribas assumed coverage on Workiva in a research report on Tuesday. They set an “outperform” rating and a $100.00 price target on the stock. Stifel Nicolaus cut their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup increased their target price on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th.

Workiva Price Performance

Shares of WK stock opened at $73.51 on Monday. The stock’s fifty day simple moving average is $78.64 and its 200 day simple moving average is $90.86. Workiva has a one year low of $60.50 and a one year high of $116.83. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -79.90 and a beta of 1.02.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, 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. Insiders sold a total of 21,129 shares of company stock valued at $1,807,333 over the last ninety days. Insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

A number of large investors have recently made changes to their positions in WK. Twin Tree Management LP acquired a new position in Workiva in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC grew its position in shares of Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after purchasing an additional 360 shares during the period. Bessemer Group Inc. increased its stake in Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock worth $43,000 after purchasing an additional 296 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in Workiva during the 1st quarter worth approximately $53,000. Finally, Johnson Financial Group Inc. bought a new position in Workiva in the fourth quarter valued at approximately $66,000. 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.