Workiva (NYSE:WK) Sets New 1-Year Low at $76.63

Workiva Inc. (NYSE:WK) shares reached a new 52-week low on Tuesday . The company traded as low as $76.63 and last traded at $77.21, with a volume of 10230 shares. The stock had previously closed at $78.19.

Analyst Ratings Changes

A number of brokerages have issued reports on WK. BMO Capital Markets reduced their price objective on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Citigroup lowered their price target on Workiva from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their target price on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.50.

Workiva Trading Down 0.5 %

The firm has a 50-day moving average price of $85.70 and a two-hundred day moving average price of $92.50.

Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. Research analysts anticipate that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling at Workiva

In other news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total value of $1,070,919.18. Following the transaction, the executive vice president now owns 62,453 shares of the company’s stock, valued at $5,846,849.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.71% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of hedge funds have recently added to or reduced their stakes in WK. Cornerstone Planning Group LLC bought a new position in Workiva in the 2nd quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new position in shares of Workiva during the 4th quarter worth about $28,000. Belpointe Asset Management LLC increased its holdings in shares of Workiva by 133.8% during the first quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Workiva during the third quarter worth approximately $54,000. Finally, Lazard Asset Management LLC bought a new position in shares of Workiva in the 1st quarter worth $82,000. 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.