Workiva (NYSE:WK) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Workiva (NYSE:WK) from a hold rating to a buy rating in a research note published on Thursday.

WK has been the subject of a number of other research reports. BMO Capital Markets reissued an outperform rating and set a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. Robert W. Baird cut their price target on shares of Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. Citigroup upped their price objective on shares of Workiva from $103.00 to $105.00 and gave the company a buy rating in a research note on Friday, June 28th. Finally, William Blair reissued an outperform rating on shares of Workiva in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $105.14.

Workiva Stock Down 0.1 %

Workiva stock opened at $74.52 on Thursday. The firm has a fifty day simple moving average of $74.62 and a two-hundred day simple moving average of $82.32. Workiva has a twelve month low of $69.40 and a twelve month high of $116.00. The company has a market capitalization of $4.09 billion, a PE ratio of -43.33 and a beta of 1.07.

Workiva (NYSE:WK) last released its 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 the consensus estimate of $173.85 million. As a group, equities analysts expect that Workiva will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael D. Hawkins sold 3,435 shares of Workiva stock in a transaction dated 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 owns 55,487 shares of the company’s stock, valued at approximately $4,519,971.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Workiva during the first quarter valued at approximately $40,000. Fidelis Capital Partners LLC purchased a new position in Workiva during the first quarter valued at $45,000. RiverPark Advisors LLC lifted its position in 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 buying an additional 893 shares during the period. SG Americas Securities LLC bought a new stake in shares of Workiva during the 4th quarter valued at $107,000. Finally, Fifth Third Bancorp grew its position in shares of Workiva by 9.0% in the 1st 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 period. Institutional investors 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.