Workiva Inc. (NYSE:WK) Receives Consensus Rating of “Buy” from Brokerages

Shares of Workiva Inc. (NYSE:WK) have received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $122.14.

A number of equities research analysts recently weighed in on WK shares. BMO Capital Markets upped their target price on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus raised Workiva from a “hold” rating to a “buy” rating and lifted their target price for the company from $102.00 to $130.00 in a research report on Wednesday, December 18th. Robert W. Baird lifted 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. The Goldman Sachs Group increased their target price on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Citigroup upped their price objective on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, December 16th.

Workiva Trading Up 3.4 %

WK opened at $100.63 on Wednesday. The company has a fifty day moving average price of $105.96 and a two-hundred day moving average price of $88.94. Workiva has a 1-year low of $65.47 and a 1-year high of $116.83. The company has a market cap of $5.57 billion, a P/E ratio of -109.38 and a beta of 1.06.

Institutional Investors Weigh In On Workiva

A number of hedge funds and other institutional investors have recently bought and sold shares of WK. Nordea Investment Management AB purchased a new stake in shares of Workiva in the fourth quarter worth about $59,894,000. Groupama Asset Managment purchased a new stake in Workiva in the 3rd quarter worth approximately $381,000. Jacobs Levy Equity Management Inc. purchased a new stake in Workiva in the 3rd quarter worth approximately $18,000,000. Janus Henderson Group PLC boosted its holdings in Workiva by 839.8% in the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock valued at $16,919,000 after purchasing an additional 191,078 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after purchasing an additional 140,310 shares in the last quarter. 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.