Workiva Inc. (NYSE:WK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Workiva Inc. (NYSE:WK) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $113.50.

WK has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Workiva from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. BMO Capital Markets dropped their price target on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus dropped their price target on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, February 21st.

Insider Buying and Selling at Workiva

In related news, EVP Michael D. Hawkins sold 11,439 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $93.62, for a total value of $1,070,919.18. Following the transaction, the executive vice president now owns 62,453 shares in the company, valued at $5,846,849.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Workiva

Several institutional investors have recently made changes to their positions in WK. Mackenzie Financial Corp grew its holdings in Workiva by 3.8% in the 4th quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock worth $302,000 after buying an additional 108 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Workiva by 5.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,069 shares of the software maker’s stock worth $210,000 after buying an additional 108 shares in the last quarter. Wealth Alliance grew its holdings in Workiva by 4.8% in the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock worth $266,000 after buying an additional 121 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Workiva by 7.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after buying an additional 132 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Workiva by 2.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,201 shares of the software maker’s stock worth $527,000 after buying an additional 136 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Workiva Stock Down 6.0 %

Shares of NYSE:WK opened at $79.32 on Thursday. The business has a fifty day moving average of $86.59 and a two-hundred day moving average of $93.00. The stock has a market cap of $4.34 billion, a P/E ratio of -33.47 and a beta of 1.03. Workiva has a 52-week low of $79.16 and a 52-week high of $116.00.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. On average, equities analysts anticipate that Workiva will post -0.91 earnings per share for the current year.

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.