Workiva (NYSE:WK) Given New $110.00 Price Target at Robert W. Baird

Workiva (NYSE:WK) had its price objective hoisted by equities research analysts at Robert W. Baird from $94.00 to $110.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s target price indicates a potential upside of 20.72% from the stock’s previous close.

Other analysts have also issued research reports about the company. StockNews.com lowered Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities decreased their target price on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, BMO Capital Markets lifted their price objective on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.80.

Workiva Stock Up 4.0 %

NYSE WK traded up $3.49 during midday trading on Thursday, hitting $91.12. The company had a trading volume of 456,601 shares, compared to its average volume of 371,059. The firm has a fifty day simple moving average of $78.12 and a two-hundred day simple moving average of $77.04. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $105.00. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of -55.35 and a beta of 1.05.

Workiva (NYSE:WK) last released its earnings results on Wednesday, November 6th. The software maker reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The company had revenue of $185.62 million for the quarter, compared to analyst estimates of $182.50 million. As a group, equities analysts predict that Workiva will post -0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of large investors have recently added to or reduced their stakes in WK. Vanguard Group Inc. boosted its position in Workiva by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after acquiring an additional 181,520 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Workiva by 58.2% in the 1st quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after buying an additional 492,945 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in Workiva by 2.8% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock worth $86,745,000 after buying an additional 32,230 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after buying an additional 19,095 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Workiva by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 392,951 shares of the software maker’s stock valued at $28,682,000 after acquiring an additional 49,222 shares in the last quarter. 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.