Workiva (NYSE:WK) Upgraded at StockNews.com

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

WK has been the topic of a number of other research reports. William Blair restated an outperform rating on shares of Workiva in a report on Friday, May 3rd. BMO Capital Markets restated an outperform rating and set a $96.00 target price on shares of Workiva in a report on Tuesday, June 11th. Robert W. Baird dropped their target price 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. Finally, Citigroup boosted their target price on shares of Workiva from $103.00 to $105.00 and gave the company 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. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $105.14.

Workiva Trading Up 3.9 %

Shares of Workiva stock opened at $73.03 on Tuesday. The company’s fifty day simple moving average is $76.66 and its two-hundred day simple moving average is $84.31. The company has a market cap of $4.00 billion, a P/E ratio of -42.46 and a beta of 1.07. Workiva has a 12-month low of $69.40 and a 12-month high of $116.00.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.19). The company had revenue of $175.67 million for the quarter, compared to analysts’ expectations of $173.85 million. Analysts predict that Workiva will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of the company’s 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 transaction, the executive vice president now owns 55,487 shares in the company, valued at approximately $4,519,971.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Workiva

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its position in shares of Workiva by 3.8% during the 4th quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock valued at $302,000 after purchasing an additional 108 shares during the last quarter. Wealth Alliance increased its position in shares of Workiva by 4.8% during the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock valued at $266,000 after purchasing an additional 121 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Workiva by 7.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock valued at $168,000 after purchasing an additional 132 shares during the last quarter. Fifth Third Bancorp increased its holdings in Workiva by 9.0% in the 1st quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock worth $143,000 after acquiring an additional 140 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Workiva by 6.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,416 shares of the software maker’s stock worth $245,000 after acquiring an additional 146 shares in the last quarter. Hedge funds and other 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.