Stephens Initiates Coverage on Workiva (NYSE:WK)

Equities research analysts at Stephens began coverage on shares of Workiva (NYSE:WK) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $111.00 price target on the software maker’s stock. Stephens’ target price would indicate a potential upside of 26.91% from the stock’s previous close.

WK has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a report on Friday, January 3rd. The Goldman Sachs Group boosted their target price on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Citigroup boosted their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.25.

Workiva Trading Down 1.2 %

Shares of NYSE:WK opened at $87.46 on Wednesday. The company has a 50 day moving average of $95.59 and a 200-day moving average of $91.80. The firm has a market cap of $4.91 billion, a P/E ratio of -95.07 and a beta of 1.09. Workiva has a twelve month low of $65.47 and a twelve month high of $116.83.

Insider Activity

In related news, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last 90 days. 3.86% of the stock is owned by company insiders.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after acquiring an additional 116 shares in the last quarter. World Investment Advisors grew its position in Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock worth $562,000 after acquiring an additional 135 shares in the last quarter. Park Avenue Securities LLC grew its position in Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after acquiring an additional 198 shares in the last quarter. Arizona State Retirement System grew its position in Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 224 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in Workiva in the fourth quarter worth approximately $25,000. 92.21% of the stock is owned by institutional investors.

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.