Workiva (NYSE:WK) Price Target Cut to $95.00

Workiva (NYSE:WK) had its target price decreased by Citigroup from $110.00 to $95.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Citigroup’s target price suggests a potential upside of 18.65% from the company’s previous close.

Other analysts have also recently issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus reduced their price objective on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.63.

Workiva Price Performance

WK stock opened at $80.07 on Tuesday. Workiva has a 52-week low of $76.63 and a 52-week high of $116.00. The company’s 50 day simple moving average is $83.95 and its 200-day simple moving average is $91.62. The firm has a market capitalization of $4.38 billion, a P/E ratio of -33.78 and a beta of 1.03.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analysts’ expectations of $164.44 million. Sell-side analysts predict that Workiva will post -0.91 EPS for the current fiscal year.

Insider Transactions at Workiva

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WK. Harvest Fund Management Co. Ltd bought a new position in shares of Workiva in the 3rd quarter valued at about $54,000. SG Americas Securities LLC acquired a new stake in shares of Workiva in the 4th quarter valued at approximately $107,000. GPS Wealth Strategies Group LLC raised its position in shares of Workiva by 19.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock valued at $109,000 after acquiring an additional 175 shares during the period. Fifth Third Bancorp raised its position in shares of Workiva by 9.0% in the 1st quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock valued at $143,000 after acquiring an additional 140 shares during the period. Finally, Vinva Investment Management Ltd acquired a new stake in shares of Workiva in the 3rd quarter valued at approximately $162,000. 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.