Workiva Inc. (NYSE:WK – Get Free Report) 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.
Get Our Latest Stock Report on WK
Workiva Trading Down 1.5 %
Workiva (NYSE:WK – Get Free Report) 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.
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