Workiva Inc. (NYSE:WK) had its target price hoisted by equities research analysts at Morgan Stanley from $18.00 to $19.00 in a research note issued on Monday. The firm currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective suggests a potential downside of 14.61% from the company’s current price.

Several other research firms have also recently issued reports on WK. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 target price on shares of Workiva in a research note on Friday, August 4th. SunTrust Banks, Inc. started coverage on Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 target price on the stock. BidaskClub cut Workiva from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Robert W. Baird raised their target price on Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.71.

Shares of Workiva (NYSE:WK) traded down 0.337% during midday trading on Monday, reaching $22.175. The company had a trading volume of 37,168 shares. The company has a 50 day moving average of $20.93 and a 200 day moving average of $19.13. Workiva has a one year low of $12.15 and a one year high of $22.70. The company’s market capitalization is $927.49 million.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts predict that Workiva will post ($0.63) EPS for the current fiscal year.

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In related news, major shareholder Jerome M. Behar sold 1,839 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $20.00, for a total value of $36,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 46,387 shares of Workiva stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $20.00, for a total transaction of $927,740.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 360,898 shares of company stock valued at $7,342,819. 33.29% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Advisor Group Inc. grew its position in Workiva by 62.9% in the 3rd quarter. Advisor Group Inc. now owns 5,700 shares of the software maker’s stock worth $103,000 after purchasing an additional 2,200 shares during the period. ETF Managers Group LLC bought a new stake in Workiva in the 2nd quarter worth approximately $118,000. Legal & General Group Plc grew its position in Workiva by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after purchasing an additional 597 shares during the period. Bank of Montreal Can bought a new stake in Workiva in the 2nd quarter worth approximately $162,000. Finally, Federated Investors Inc. PA grew its position in Workiva by 89.8% in the 4th quarter. Federated Investors Inc. PA now owns 9,348 shares of the software maker’s stock worth $128,000 after purchasing an additional 4,422 shares during the period. 32.18% of the stock is owned by institutional investors and hedge funds.

About Workiva

Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.

Analyst Recommendations for Workiva (NYSE:WK)

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