Workiva (NYSE:WK) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Workiva (NYSE:WK) from a hold rating to a buy rating in a research note released on Tuesday.

WK has been the topic of a number of other research reports. William Blair restated an outperform rating on shares of Workiva in a report on Friday, May 3rd. Citigroup decreased their target price on Workiva from $110.00 to $95.00 and set a buy rating for the company in a report on Tuesday, April 23rd. Stifel Nicolaus cut their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating on the stock in a report on Wednesday, February 21st. Finally, BMO Capital Markets restated an outperform rating and issued a $96.00 price objective on shares of Workiva in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $109.43.

Workiva Stock Performance

Shares of WK stock opened at $74.47 on Tuesday. The company has a market capitalization of $4.08 billion, a P/E ratio of -43.30 and a beta of 1.07. Workiva has a fifty-two week low of $73.32 and a fifty-two week high of $116.00. The stock has a 50 day moving average price of $79.70 and a two-hundred day moving average price of $87.97.

Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting analysts’ consensus estimates of ($0.19). The firm had revenue of $175.67 million for the quarter, compared to the consensus estimate of $173.85 million. As a group, equities analysts predict that Workiva will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael D. Hawkins sold 3,435 shares of Workiva stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the transaction, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at approximately $4,519,971.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workiva

Several large investors have recently modified their holdings of WK. New York State Common Retirement Fund raised its holdings in Workiva by 11.4% in the 4th quarter. New York State Common Retirement Fund now owns 442,684 shares of the software maker’s stock worth $44,946,000 after acquiring an additional 45,334 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Workiva by 4.5% in the third quarter. William Blair Investment Management LLC now owns 354,524 shares of the software maker’s stock worth $35,927,000 after purchasing an additional 15,351 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Workiva by 9.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 417,216 shares of the software maker’s stock valued at $42,281,000 after purchasing an additional 36,414 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Workiva by 8.2% during the fourth quarter. First Trust Advisors LP now owns 626,803 shares of the software maker’s stock valued at $63,639,000 after buying an additional 47,256 shares during the last quarter. Finally, Crestline Management LP bought a new stake in Workiva in the 4th quarter worth about $3,793,000. Hedge funds and other 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.