Stephens Begins Coverage on Workiva (NYSE:WK)

Stephens initiated coverage on shares of Workiva (NYSE:WK) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $111.00 price target on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets cut their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Friday, January 3rd. Stifel Nicolaus cut their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Robert W. Baird raised their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Stock Performance

NYSE:WK opened at $87.28 on Wednesday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The firm’s 50-day simple moving average is $94.33 and its 200 day simple moving average is $91.82.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jill Klindt sold 5,593 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This trade represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. acquired a new position in Workiva in the 4th quarter valued at approximately $5,825,000. GTS Securities LLC acquired a new stake in Workiva in the fourth quarter valued at $212,000. Castleark Management LLC bought a new position in Workiva during the 4th quarter worth $6,800,000. Vident Advisory LLC acquired a new position in Workiva during the 4th quarter worth about $240,000. Finally, Two Sigma Advisers LP grew its position in shares of Workiva by 155.8% in the 4th quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker’s stock valued at $4,621,000 after buying an additional 25,700 shares during 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.