Workiva (NYSE:WK) Price Target Cut to $95.00 by Analysts at Citigroup

Workiva (NYSE:WK) had its target price trimmed by Citigroup from $110.00 to $95.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price objective on Workiva from $92.00 to $85.00 and set a hold rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets dropped their price objective on Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $111.63.

Workiva Stock Up 1.6 %

WK opened at $80.33 on Tuesday. The stock’s 50 day moving average price is $84.13 and its 200-day moving average price is $91.76. Workiva has a one year low of $76.63 and a one year high of $116.00.

Workiva (NYSE:WK) last released its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $166.65 million for the quarter, compared to the consensus estimate of $164.44 million. Equities analysts forecast that Workiva will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the sale, the executive vice president now owns 62,453 shares in the company, valued at $5,846,849.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.71% of the stock is owned by company insiders.

Institutional Trading of Workiva

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Workiva by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,004,409 shares of the software maker’s stock worth $508,098,000 after buying an additional 51,284 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Workiva by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,618 shares of the software maker’s stock valued at $156,836,000 after purchasing an additional 126,094 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Workiva by 4.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock valued at $129,452,000 after purchasing an additional 51,506 shares during the last quarter. Brown Capital Management LLC lifted its holdings in shares of Workiva by 22.6% during the 4th quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after purchasing an additional 234,255 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Workiva by 0.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 952,730 shares of the software maker’s stock valued at $96,731,000 after purchasing an additional 5,440 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.