Workiva (NYSE:WK) Sets New 1-Year High Following Analyst Upgrade

Shares of Workiva Inc. (NYSE:WK) hit a new 52-week high on Tuesday after Stifel Nicolaus upgraded the stock from a hold rating to a buy rating. Stifel Nicolaus now has a $130.00 price target on the stock, up from their previous price target of $102.00. Workiva traded as high as $107.49 and last traded at $107.45, with a volume of 47724 shares traded. The stock had previously closed at $105.42.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets boosted their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup raised their price target on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workiva has an average rating of “Moderate Buy” and a consensus target price of $117.40.

Institutional Trading of Workiva

A number of hedge funds and other institutional investors have recently made changes to their positions in WK. V Square Quantitative Management LLC acquired a new stake in shares of Workiva during the 3rd quarter worth approximately $28,000. Quarry LP boosted its stake in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after acquiring an additional 166 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Workiva during the 2nd quarter valued at about $62,000. Headlands Technologies LLC increased its stake in shares of Workiva by 896.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after purchasing an additional 1,577 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Workiva in the 3rd quarter worth about $168,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Stock Up 0.8 %

The business has a 50-day simple moving average of $90.52 and a 200-day simple moving average of $80.44. The company has a market cap of $6.10 billion, a PE ratio of -119.68 and a beta of 1.09.

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.