StockNews.com Downgrades Workiva (NYSE:WK) to Hold

Workiva (NYSE:WK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other analysts have also issued research reports about the stock. Citigroup raised their price objective on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Friday. William Blair reaffirmed 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 price objective on shares of Workiva in a research note on Tuesday, June 11th. Finally, Robert W. Baird lowered their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.14.

Workiva Trading Down 2.1 %

WK stock traded down $1.50 during trading on Monday, hitting $71.49. The company had a trading volume of 667,120 shares, compared to its average volume of 365,915. The company has a fifty day moving average price of $78.00 and a two-hundred day moving average price of $85.74. Workiva has a fifty-two week low of $69.46 and a fifty-two week high of $116.00. The company has a market cap of $3.92 billion, a P/E ratio of -41.56 and a beta of 1.07.

Workiva (NYSE:WK) last issued its earnings results on Thursday, May 2nd. The software maker reported ($0.19) EPS for the quarter, meeting the consensus estimate of ($0.19). The firm had revenue of $175.67 million during the quarter, compared to analyst estimates of $173.85 million. On average, analysts expect that Workiva will post -0.62 earnings per share for the current year.

Insider Activity

In other Workiva news, EVP Michael D. Hawkins sold 3,435 shares of Workiva stock in a transaction on 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 owns 55,487 shares of the company’s stock, 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 insiders.

Institutional Trading of Workiva

A number of hedge funds have recently modified their holdings of WK. Kopp LeRoy C acquired a new stake in Workiva during the 1st quarter worth approximately $6,481,000. Cetera Investment Advisers bought a new position in Workiva during the 1st quarter worth about $1,629,000. Burney Co. acquired a new stake in shares of Workiva in the 1st quarter valued at about $3,678,000. Swedbank AB bought a new stake in shares of Workiva in the first quarter valued at about $16,180,000. Finally, iA Global Asset Management Inc. boosted its position in shares of Workiva by 12.5% during the first quarter. iA Global Asset Management Inc. now owns 7,159 shares of the software maker’s stock worth $607,000 after buying an additional 794 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.