Workiva (NYSE:WK) Price Target Cut to $108.00 by Analysts at BMO Capital Markets

Workiva (NYSE:WK) had its target price cut by stock analysts at BMO Capital Markets from $120.00 to $108.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 23.01% from the stock’s previous close.

A number of other analysts have also recently commented on WK. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup upped their price objective on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. 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, January 14th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Finally, Stifel Nicolaus lowered their price objective on Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.57.

Workiva Trading Up 5.2 %

WK stock traded up $4.31 during trading on Wednesday, reaching $87.80. The stock had a trading volume of 224,173 shares, compared to its average volume of 646,511. The firm has a market cap of $4.86 billion, a PE ratio of -95.54 and a beta of 1.06. The stock’s 50 day moving average is $102.83 and its two-hundred day moving average is $90.86. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83.

Institutional Trading of Workiva

A number of large investors have recently made changes to their positions in the business. Creative Planning lifted its position in Workiva by 73.5% in the third quarter. Creative Planning now owns 11,929 shares of the software maker’s stock worth $944,000 after buying an additional 5,053 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Workiva by 6,373.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,257 shares of the software maker’s stock worth $732,000 after acquiring an additional 9,114 shares during the last quarter. US Bancorp DE boosted its stake in shares of Workiva by 58.3% during the 3rd quarter. US Bancorp DE now owns 23,431 shares of the software maker’s stock worth $1,854,000 after purchasing an additional 8,632 shares during the period. Impax Asset Management Group plc grew its holdings in Workiva by 16.5% during the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock valued at $12,547,000 after purchasing an additional 22,500 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock worth $37,010,000 after buying an additional 19,095 shares during the period. 92.21% of the stock is currently 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.