Workiva (NYSE:WK) PT Lowered to $95.00 at Citigroup

Workiva (NYSE:WK) had its price target cut by investment analysts at Citigroup from $110.00 to $95.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s target price indicates a potential upside of 17.84% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. BMO Capital Markets dropped their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus reduced their target price on Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.63.

Workiva Price Performance

WK traded up $1.53 on Tuesday, reaching $80.62. 60,408 shares of the company traded hands, compared to its average volume of 380,984. Workiva has a 52-week low of $76.63 and a 52-week high of $116.00. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -34.02 and a beta of 1.03. The stock’s 50 day moving average price is $84.13 and its 200-day moving average price is $91.76.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, equities research analysts forecast that Workiva will post -0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael D. Hawkins sold 11,439 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the transaction, the executive vice president now owns 62,453 shares of the company’s stock, valued at $5,846,849.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently added to or reduced their stakes in WK. Vanguard Group Inc. lifted its position in shares of Workiva by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,004,409 shares of the software maker’s stock worth $508,098,000 after acquiring an additional 51,284 shares during the period. Ameriprise Financial Inc. boosted its stake in Workiva by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock worth $156,836,000 after buying an additional 126,094 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Workiva by 4.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock valued at $129,452,000 after buying an additional 51,506 shares during the period. 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 buying an additional 234,255 shares during the period. Finally, Conestoga Capital Advisors LLC increased its stake in Workiva by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 952,730 shares of the software maker’s stock valued at $96,731,000 after acquiring an additional 5,440 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.