Northland Securities Lowers Workiva (NYSE:WK) Price Target to $95.00

Workiva (NYSE:WK) had its price target dropped by analysts at Northland Securities from $106.00 to $95.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. Northland Securities’ price target would suggest a potential upside of 33.43% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Citigroup raised their target price on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, June 28th. William Blair restated an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd. Robert W. Baird dropped their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research report on Thursday, June 27th. BMO Capital Markets restated an “outperform” rating and set a $96.00 price target on shares of Workiva in a report on Tuesday, June 11th. Finally, StockNews.com upgraded Workiva from a “hold” rating to a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Workiva has an average rating of “Moderate Buy” and an average target price of $102.29.

Workiva Price Performance

NYSE:WK traded down $1.35 during trading hours on Friday, hitting $71.20. The company’s stock had a trading volume of 698,334 shares, compared to its average volume of 383,531. Workiva has a twelve month low of $65.47 and a twelve month high of $116.00. The stock has a fifty day simple moving average of $74.03 and a 200-day simple moving average of $81.89. The company has a market capitalization of $3.90 billion, a P/E ratio of -41.20 and a beta of 1.07.

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

Insider Transactions at Workiva

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new stake in shares of Workiva in the first quarter valued at about $40,000. Fidelis Capital Partners LLC bought a new position in shares of Workiva in the first quarter valued at approximately $45,000. RiverPark Advisors LLC increased its position in shares of Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after acquiring an additional 893 shares during the last quarter. SG Americas Securities LLC bought a new stake in Workiva during the fourth quarter worth $107,000. Finally, Fifth Third Bancorp boosted 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 worth $143,000 after purchasing an additional 140 shares during the last quarter. 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.