Workiva (NYSE:WK) PT Lowered to $95.00

Workiva (NYSE:WK) had its price objective trimmed by Citigroup from $110.00 to $95.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

WK has been the topic of several other research reports. Stifel Nicolaus dropped their price objective on Workiva from $92.00 to $85.00 and set a hold rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets dropped their price objective on Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Workiva has a consensus rating of Moderate Buy and a consensus target price of $111.63.

Workiva Stock Performance

WK opened at $80.65 on Tuesday. Workiva has a 52-week low of $76.63 and a 52-week high of $116.00. The firm has a market capitalization of $4.41 billion, a PE ratio of -34.03 and a beta of 1.03. The business’s 50-day simple moving average is $83.43 and its 200 day simple moving average is $91.45.

Workiva (NYSE:WK) last released its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to the consensus estimate of $164.44 million. On average, research analysts forecast that Workiva will post -0.91 earnings per share for the current year.

Insider Activity

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. 5.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Workiva

A number of large investors have recently added to or reduced their stakes in WK. Norges Bank acquired a new stake in Workiva during the fourth quarter worth approximately $57,025,000. Loomis Sayles & Co. L P grew its position in Workiva by 159.1% during the third quarter. Loomis Sayles & Co. L P now owns 683,418 shares of the software maker’s stock worth $69,257,000 after buying an additional 419,640 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Workiva during the fourth quarter worth approximately $36,581,000. Brown Capital Management LLC grew its position in Workiva by 22.6% during the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock worth $129,116,000 after buying an additional 234,255 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in Workiva by 21.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,156,215 shares of the software maker’s stock worth $98,047,000 after buying an additional 203,485 shares in the last quarter. Institutional investors and hedge funds 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.