Workiva Inc. (NYSE:WK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Workiva Inc. (NYSE:WK) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $95.00.

A number of equities analysts have recently weighed in on the company. Northland Securities cut their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. StockNews.com cut shares of Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird cut their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research 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, BMO Capital Markets reaffirmed an “outperform” rating and issued a $96.00 target price on shares of Workiva in a research note on Tuesday, June 11th.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the company’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 completion of the transaction, the executive vice president now owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC increased its position in shares of Workiva by 58.2% in the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock worth $113,642,000 after acquiring an additional 492,945 shares in the last quarter. Brown Capital Management LLC increased its holdings in Workiva by 22.6% in the 4th quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after purchasing an additional 234,255 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in Workiva by 21.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock valued at $98,047,000 after purchasing an additional 203,485 shares during the period. Swedbank AB acquired a new position in shares of Workiva during the first quarter worth about $16,180,000. Finally, Vanguard Group Inc. boosted its position in shares of Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after buying an additional 181,520 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Stock Performance

Workiva stock opened at $77.19 on Thursday. Workiva has a fifty-two week low of $65.47 and a fifty-two week high of $105.00. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -44.88 and a beta of 1.05. The stock’s fifty day moving average is $76.30 and its two-hundred day moving average is $77.14.

Workiva (NYSE:WK) last announced its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $177.50 million for the quarter, compared to the consensus estimate of $175.22 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.36) EPS. As a group, sell-side analysts forecast that Workiva will post -0.86 EPS for the current fiscal year.

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.