Workiva (NYSE:WK) Price Target Cut to $108.00 by Analysts at BMO Capital Markets

Workiva (NYSE:WK) had its price objective cut by BMO Capital Markets from $120.00 to $108.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other brokerages have also recently issued reports on WK. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research report on Friday, January 3rd. Robert W. Baird upped their target price on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Citigroup upped their target price on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Stifel Nicolaus decreased their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

Workiva Stock Up 7.3 %

Shares of WK stock opened at $89.61 on Wednesday. The stock has a market cap of $4.96 billion, a P/E ratio of -97.40 and a beta of 1.06. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The company’s fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $90.85.

Hedge Funds Weigh In On Workiva

Hedge funds have recently added to or reduced their stakes in the company. Versor Investments LP bought a new position in Workiva during the 3rd quarter valued at about $1,217,000. SG Americas Securities LLC grew its holdings in Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker’s stock valued at $1,023,000 after purchasing an additional 5,475 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Workiva by 4.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after purchasing an additional 19,095 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Workiva by 138.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after purchasing an additional 31,421 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in Workiva during the 4th quarter valued at about $59,894,000. 92.21% of the stock is currently owned by institutional investors.

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.