Stifel Nicolaus Issues Positive Forecast for Workiva (NYSE:WK) Stock Price

by · The Markets Daily

Workiva (NYSE:WK – Free Report) had its target price raised by Stifel Nicolaus from $85.00 to $102.00 in a report released on Thursday morning,Benzinga reports. They currently have a hold rating on the software maker’s stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Robert W. Baird boosted their target price on Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday. Northland Securities lowered their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and an average price target of $103.20.

Get Our Latest Stock Report on WK

Workiva Price Performance

NYSE WK traded up $4.51 during midday trading on Thursday, hitting $96.00. The company had a trading volume of 473,132 shares, compared to its average volume of 373,657. Workiva has a twelve month low of $65.47 and a twelve month high of $105.00. The firm has a 50-day moving average price of $78.38 and a 200-day moving average price of $77.14.

Workiva (NYSE:WK – Get Free Report) last announced its earnings results on Wednesday, November 6th. The software maker reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The company had revenue of $185.62 million during the quarter, compared to the consensus estimate of $182.50 million. As a group, equities analysts predict that Workiva will post -0.86 earnings per share for the current fiscal year.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.86% of the company’s stock.

Hedge Funds Weigh In On Workiva

A number of institutional investors and hedge funds have recently modified their holdings of WK. V Square Quantitative Management LLC bought a new position in Workiva in the 3rd quarter worth $28,000. Quarry LP raised its holdings in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after purchasing an additional 166 shares during the period. EntryPoint Capital LLC bought a new position in Workiva in the 1st quarter worth $40,000. Point72 Hong Kong Ltd bought a new position in Workiva in the 2nd quarter worth $62,000. Finally, Headlands Technologies LLC raised its holdings in Workiva by 896.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock worth $128,000 after purchasing an additional 1,577 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

About Workiva

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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.

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