Workiva (NYSE:WK) Downgraded by StockNews.com

StockNews.com lowered shares of Workiva (NYSE:WK) from a buy rating to a hold rating in a research note issued to investors on Monday.

WK has been the subject of several other research reports. Citigroup boosted their price target on shares of Workiva from $103.00 to $105.00 and gave the stock a buy rating in a report on Friday, June 28th. BMO Capital Markets reaffirmed an outperform rating and issued a $96.00 price target on shares of Workiva in a research note on Tuesday, June 11th. Robert W. Baird lowered their price objective on Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. Finally, William Blair reissued an outperform rating on shares of Workiva in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $105.14.

Workiva Price Performance

WK stock opened at $72.60 on Monday. The firm’s fifty day simple moving average is $77.68 and its 200-day simple moving average is $85.46. Workiva has a 12 month low of $69.46 and a 12 month high of $116.00. The company has a market capitalization of $3.98 billion, a P/E ratio of -42.21 and a beta of 1.07.

Workiva (NYSE:WK) last issued its earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The company had revenue of $175.67 million during the quarter, compared to analysts’ expectations of $173.85 million. As a group, sell-side analysts forecast that Workiva will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the sale, the executive vice president now directly owns 55,487 shares in the company, valued at approximately $4,519,971.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in Workiva by 3.8% in the fourth quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock valued at $302,000 after purchasing an additional 108 shares in the last quarter. Wealth Alliance grew its position in shares of Workiva by 4.8% in the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock valued at $266,000 after buying an additional 121 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Workiva by 7.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock worth $168,000 after acquiring an additional 132 shares in the last quarter. Fifth Third Bancorp lifted its position in Workiva by 9.0% in the first 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 last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Workiva by 6.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the software maker’s stock valued at $245,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.