Workiva (NYSE:WK) Sees Strong Trading Volume – Still a Buy?

Workiva Inc. (NYSE:WK) saw unusually-high trading volume on Wednesday . Approximately 1,092,086 shares traded hands during mid-day trading, an increase of 139% from the previous session’s volume of 456,318 shares.The stock last traded at $77.99 and had previously closed at $76.06.

Analyst Ratings Changes

Several research analysts have recently issued reports on WK shares. Stifel Nicolaus dropped their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Citigroup increased their target price on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group reduced their price objective on Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

Workiva Price Performance

The stock’s 50-day simple moving average is $90.08 and its two-hundred day simple moving average is $92.49. The firm has a market capitalization of $4.33 billion, a P/E ratio of -83.93 and a beta of 1.09.

Insider Activity at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares in the company, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Workiva

Several large investors have recently bought and sold shares of the business. Twin Tree Management LP bought a new stake in shares of Workiva in the 4th quarter worth about $25,000. Johnson Financial Group Inc. bought a new stake in Workiva during the fourth quarter worth approximately $66,000. GeoWealth Management LLC raised its position in Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after purchasing an additional 602 shares during the period. Global Wealth Strategies & Associates bought a new stake in shares of Workiva in the 1st quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock worth $97,000 after purchasing an additional 879 shares during the period. Institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

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.