Analysts Set Workiva Inc. (NYSE:WK) Target Price at $111.86

Shares of Workiva Inc. (NYSE:WK) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $111.86.

Several brokerages recently commented on WK. Citigroup reduced their price target on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus cut their price objective on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets decreased 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. Finally, William Blair reiterated an “outperform” rating on shares of Workiva in a report on Friday, May 3rd.

Workiva Stock Performance

Shares of NYSE:WK opened at $80.15 on Monday. The company has a market capitalization of $4.39 billion, a PE ratio of -46.60 and a beta of 1.04. The stock has a fifty day moving average of $82.13 and a 200-day moving average of $90.21. Workiva has a one year low of $76.63 and a one year high of $116.00.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, topping 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, research analysts forecast that Workiva will post -0.78 EPS for the current fiscal year.

Institutional Trading of Workiva

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Workiva during the fourth quarter worth approximately $57,025,000. Loomis Sayles & Co. L P increased its position in Workiva by 159.1% in the third quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock worth $69,257,000 after purchasing an additional 419,640 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Workiva during the 4th quarter valued at about $36,581,000. Brown Capital Management LLC boosted its stake in shares of Workiva by 22.6% in the 4th quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after purchasing an additional 234,255 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of Workiva by 21.4% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock worth $98,047,000 after buying an additional 203,485 shares during the period. 92.21% of the stock is owned by institutional investors.

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.