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

Workiva Inc. (NYSE:WK) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $99.17.

Several brokerages have weighed in on WK. Citigroup lifted their price target on shares of Workiva from $103.00 to $105.00 and gave the company a “buy” rating in a report on Friday, June 28th. Robert W. Baird cut their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating on the stock in a research report on Thursday, June 27th. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Northland Securities dropped their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, William Blair restated an “outperform” rating on shares of Workiva in a research report on Friday, May 3rd.

Workiva Trading Down 1.5 %

WK opened at $78.20 on Wednesday. The company has a fifty day simple moving average of $73.32 and a 200 day simple moving average of $79.97. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -45.47 and a beta of 1.07. Workiva has a twelve month low of $65.47 and a twelve month high of $116.00.

Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $177.50 million for the quarter, compared to analyst estimates of $175.22 million. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted ($0.36) earnings per share. On average, analysts forecast that Workiva will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WK. Norges Bank purchased a new position in shares of Workiva in the fourth quarter worth approximately $57,025,000. Champlain Investment Partners LLC grew its position in Workiva by 58.2% during the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after purchasing an additional 492,945 shares in the last quarter. Brown Capital Management LLC grew its position in Workiva by 22.6% during the fourth 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 grew its position in Workiva by 21.4% during 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 in the last quarter. Finally, Swedbank AB purchased a new position in Workiva during the first quarter valued at approximately $16,180,000. 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.