Workiva (NYSE:WK) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Workiva (NYSE:WK) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. William Blair reissued an outperform rating on shares of Workiva in a report on Friday, May 3rd. BMO Capital Markets reissued an outperform rating and issued a $96.00 target price on shares of Workiva in a report on Tuesday, June 11th. Finally, Citigroup boosted their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a buy rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Workiva has an average rating of Moderate Buy and an average price target of $105.14.

Workiva Stock Up 1.8 %

Shares of WK stock opened at $74.38 on Tuesday. The company has a 50 day moving average price of $76.52 and a 200-day moving average price of $84.10. Workiva has a 52 week low of $69.40 and a 52 week high of $116.00. The firm has a market capitalization of $4.08 billion, a PE ratio of -43.24 and a beta of 1.07.

Workiva (NYSE:WK) last announced its earnings results on Thursday, May 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). The business had revenue of $175.67 million for the quarter, compared to the consensus estimate of $173.85 million. Analysts anticipate that Workiva will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $81.46, for a total transaction of $279,815.10. Following the completion of the sale, the executive vice president now directly owns 55,487 shares of the company’s stock, valued at $4,519,971.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Workiva by 12.2% in the 2nd quarter. SG Americas Securities LLC now owns 16,759 shares of the software maker’s stock valued at $1,223,000 after purchasing an additional 1,824 shares during the last quarter. CWM LLC raised its position in shares of Workiva by 4.3% in the 2nd quarter. CWM LLC now owns 6,306 shares of the software maker’s stock valued at $460,000 after purchasing an additional 259 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Workiva by 34.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,891 shares of the software maker’s stock valued at $649,000 after purchasing an additional 2,283 shares during the last quarter. Kopp LeRoy C purchased a new position in shares of Workiva in the 1st quarter valued at approximately $6,481,000. Finally, Cetera Investment Advisers purchased a new position in shares of Workiva in the 1st quarter valued at approximately $1,629,000. 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.