Workiva (NYSE:WK) PT Lowered to $94.00

Workiva (NYSE:WK) had its price objective dropped by stock analysts at Robert W. Baird from $105.00 to $94.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 28.73% from the company’s previous close.

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

Workiva Price Performance

Shares of Workiva stock opened at $73.02 on Thursday. The firm has a market cap of $4.00 billion, a PE ratio of -42.45 and a beta of 1.07. Workiva has a 1 year low of $69.46 and a 1 year high of $116.00. The stock has a fifty day moving average price of $78.16 and a 200-day moving average price of $86.09.

Workiva (NYSE:WK) last released its earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The business had revenue of $175.67 million for the quarter, compared to the consensus estimate of $173.85 million. As a group, equities analysts anticipate that Workiva will post -0.62 EPS for the current fiscal year.

Insider Activity at Workiva

In related news, EVP Michael D. Hawkins sold 3,435 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the transaction, the executive vice president now owns 55,487 shares in the company, valued at $4,519,971.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workiva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WK. Hsbc Holdings PLC grew its stake in shares of Workiva by 116.6% in the third quarter. Hsbc Holdings PLC now owns 12,233 shares of the software maker’s stock worth $1,246,000 after acquiring an additional 6,585 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Workiva in the third quarter worth $1,018,000. Stifel Financial Corp grew its stake in shares of Workiva by 1.9% in the third quarter. Stifel Financial Corp now owns 49,570 shares of the software maker’s stock worth $5,023,000 after acquiring an additional 935 shares during the last quarter. Northern Trust Corp boosted its position in shares of Workiva by 0.4% during the third quarter. Northern Trust Corp now owns 594,345 shares of the software maker’s stock valued at $60,231,000 after buying an additional 2,110 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Workiva by 26.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,828 shares of the software maker’s stock valued at $287,000 after buying an additional 600 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other 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.