Workiva (NYSE:WK) Shares Gap Up – Here’s What Happened

Workiva Inc. (NYSE:WK)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $109.29, but opened at $112.57. Workiva shares last traded at $114.12, with a volume of 93,953 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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 note on Wednesday. Robert W. Baird upped their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets lifted 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, Citigroup increased their price objective on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.40.

Workiva Trading Up 1.2 %

The business’s fifty day moving average price is $91.16 and its two-hundred day moving average price is $80.65. The firm has a market cap of $6.17 billion, a P/E ratio of -121.07 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in Workiva by 2.0% during the 2nd quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock valued at $498,000 after purchasing an additional 137 shares during the period. Quarry LP raised its stake in Workiva by 57.8% during 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 last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Workiva by 8.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock valued at $171,000 after purchasing an additional 179 shares during the period. Xponance Inc. boosted its holdings in Workiva by 6.0% in the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock valued at $233,000 after purchasing an additional 182 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in Workiva by 3.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock worth $358,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.