Workiva Inc. (NYSE:WK) Given Average Rating of “Buy” by Analysts

Workiva Inc. (NYSE:WK) has been given an average recommendation of “Buy” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $122.14.

Several research firms recently issued reports on WK. Citigroup increased their price target on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Robert W. Baird boosted their price target on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. The Goldman Sachs Group lifted their target price on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and raised their price target for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. Finally, Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd.

Workiva Price Performance

NYSE WK opened at $112.05 on Friday. The firm has a 50-day moving average price of $104.08 and a two-hundred day moving average price of $86.31. Workiva has a 12-month low of $65.47 and a 12-month high of $116.83.

Hedge Funds Weigh In On Workiva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Workiva during the 3rd quarter worth about $28,000. Quarry LP grew its stake in Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after acquiring an additional 166 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Workiva during the 2nd quarter worth approximately $62,000. Headlands Technologies LLC lifted its stake in Workiva by 896.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the period. Institutional investors own 92.21% of the company’s stock.

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.