Workiva (NYSE:WK) Upgraded to “Outperform” at Raymond James

Workiva (NYSE:WK) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Friday, Marketbeat Ratings reports. The firm presently has a $135.00 price objective on the software maker’s stock. Raymond James’ price target indicates a potential upside of 24.00% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Robert W. Baird raised their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. BMO Capital Markets boosted their target price on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and raised their price target for the stock from $102.00 to $130.00 in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.33.

Workiva Stock Performance

NYSE:WK opened at $108.87 on Friday. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The firm has a 50-day moving average price of $98.03 and a two-hundred day moving average price of $83.36. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -118.34 and a beta of 1.09.

Institutional Investors Weigh In On Workiva

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Workiva in the third quarter worth about $28,000. Quarry LP boosted its holdings in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after purchasing an additional 166 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Workiva during the 2nd quarter valued at $62,000. Headlands Technologies LLC increased its holdings in shares of Workiva by 896.0% in the second 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. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Workiva in the third quarter worth $168,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Workiva

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.