Workiva Inc. (NYSE:WK) Given Average Recommendation of “Moderate Buy” by Brokerages

Workiva Inc. (NYSE:WK) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.9231.

Several research analysts have issued reports on the company. UBS Group set a $110.00 price objective on Workiva in a report on Sunday, November 9th. Stifel Nicolaus set a $98.00 price target on Workiva in a report on Thursday, November 6th. Raymond James Financial restated an “outperform” rating and set a $105.00 target price on shares of Workiva in a research report on Wednesday, December 10th. BTIG Research initiated coverage on shares of Workiva in a research note on Tuesday, December 16th. They set a “buy” rating and a $105.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Workiva in a research note on Thursday, November 6th.

Hedge Funds Weigh In On Workiva

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WK. Private Wealth Asset Management LLC grew its holdings in shares of Workiva by 1,731.7% during the third quarter. Private Wealth Asset Management LLC now owns 75,100 shares of the software maker’s stock worth $6,465,000 after buying an additional 71,000 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Workiva by 50.7% during the third quarter. Nordea Investment Management AB now owns 1,368,401 shares of the software maker’s stock valued at $115,589,000 after buying an additional 460,540 shares during the period. Ranger Investment Management L.P. boosted its position in Workiva by 39.5% during the third quarter. Ranger Investment Management L.P. now owns 312,045 shares of the software maker’s stock worth $26,861,000 after acquiring an additional 88,425 shares during the last quarter. Nicholas Company Inc. grew its stake in Workiva by 9.3% in the 2nd quarter. Nicholas Company Inc. now owns 80,881 shares of the software maker’s stock worth $5,536,000 after acquiring an additional 6,850 shares during the period. Finally, Pembroke Management LTD purchased a new stake in Workiva in the 3rd quarter worth approximately $36,185,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Performance

Workiva stock opened at $61.91 on Friday. The business’s fifty day moving average is $82.47 and its two-hundred day moving average is $83.38. The firm has a market cap of $3.47 billion, a P/E ratio of -73.70 and a beta of 0.62. Workiva has a 52 week low of $60.50 and a 52 week high of $97.10.

Workiva Company Profile

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.