Workiva (NYSE:WK) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts also recently commented on WK. William Blair reiterated an outperform rating on shares of Workiva in a report on Friday, May 3rd. Robert W. Baird dropped their price objective on Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a report on Thursday, June 27th. BMO Capital Markets reiterated an outperform rating and issued a $96.00 price objective on shares of Workiva in a report on Tuesday, June 11th. Finally, Citigroup increased their price objective on Workiva from $103.00 to $105.00 and gave the company a buy rating in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $105.14.

Workiva Stock Up 1.8 %

Shares of Workiva stock opened at $74.38 on Tuesday. Workiva has a 52 week low of $69.40 and a 52 week high of $116.00. The business’s fifty day simple moving average is $76.52 and its 200-day simple moving average is $84.10. The firm has a market cap of $4.08 billion, a PE ratio of -43.24 and a beta of 1.07.

Workiva (NYSE:WK) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $173.85 million. As a group, equities analysts expect that Workiva will post -0.62 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Workiva

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in shares of Workiva in the first quarter valued at about $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Workiva in the first quarter valued at about $45,000. SG Americas Securities LLC acquired a new stake in shares of Workiva in the fourth quarter valued at about $107,000. RiverPark Advisors LLC grew its stake in shares of Workiva by 361.5% in the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock valued at $97,000 after buying an additional 893 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Workiva by 9.0% in the first quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock valued at $143,000 after buying an additional 140 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.