Workiva (NYSE:WK) Hits New 1-Year High Following Analyst Upgrade

Workiva Inc. (NYSE:WK) shares hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $116.00 to $128.00. Citigroup currently has a buy rating on the stock. Workiva traded as high as $107.49 and last traded at $107.45, with a volume of 47724 shares traded. The stock had previously closed at $105.42.

Several other research analysts also recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their target price on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their target price on shares of Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.80.

Institutional Investors Weigh In On Workiva

Several institutional investors and hedge funds have recently bought and sold shares of the business. World Investment Advisors LLC bought a new stake in Workiva in the 3rd quarter valued at $396,000. Sanctuary Advisors LLC acquired a new position in Workiva during the 3rd quarter valued at about $168,000. Geode Capital Management LLC raised its position in shares of Workiva by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after acquiring an additional 35,029 shares during the period. Groupama Asset Managment acquired a new stake in shares of Workiva in the 3rd quarter valued at approximately $381,000. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Workiva in the 3rd quarter valued at approximately $921,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of -114.70 and a beta of 1.09. The business’s 50-day moving average is $89.86 and its two-hundred day moving average is $80.21.

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.