Workiva (NYSE:WK) Price Target Cut to $94.00 by Analysts at Robert W. Baird

Workiva (NYSE:WK) had its price target cut by Robert W. Baird from $105.00 to $94.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the software maker’s stock.

WK has been the subject of a number of other reports. William Blair reiterated an outperform rating on shares of Workiva in a research report on Friday, May 3rd. StockNews.com upgraded shares of Workiva from a hold rating to a buy rating in a research report on Tuesday, June 11th. BMO Capital Markets reiterated an outperform rating and set a $96.00 price objective on shares of Workiva in a research report on Tuesday, June 11th. Finally, Citigroup reduced their target price on shares of Workiva from $110.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $105.14.

Workiva Trading Down 0.7 %

Shares of NYSE:WK opened at $72.99 on Thursday. The firm has a 50 day moving average of $78.16 and a 200-day moving average of $85.94. The stock has a market capitalization of $4.00 billion, a PE ratio of -42.44 and a beta of 1.07. Workiva has a 12 month low of $69.46 and a 12 month high of $116.00.

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

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. EntryPoint Capital LLC bought a new position in Workiva during the first quarter worth $40,000. Fidelis Capital Partners LLC bought a new position in Workiva during the first quarter worth $45,000. RiverPark Advisors LLC boosted its stake in Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares in the last quarter. SG Americas Securities LLC bought a new position in Workiva during the fourth quarter worth $107,000. Finally, Fifth Third Bancorp raised its holdings in Workiva by 9.0% during the first quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock worth $143,000 after buying an additional 140 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

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.