Workiva (NYSE:WK) Lowered to Hold at StockNews.com

StockNews.com cut shares of Workiva (NYSE:WK) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other brokerages also recently commented on WK. Northland Securities cut their price target on shares of Workiva from $106.00 to $95.00 and set an outperform rating on the stock in a report on Friday, August 2nd. BMO Capital Markets restated an outperform rating and issued a $96.00 target price on shares of Workiva in a research note on Tuesday, June 11th. Citigroup upped their price target on shares of Workiva from $103.00 to $105.00 and gave the stock a buy rating in a research report on Friday, June 28th. William Blair reaffirmed an outperform rating on shares of Workiva in a research report on Friday, May 3rd. Finally, Robert W. Baird lowered their price target on shares of Workiva from $105.00 to $94.00 and set an outperform rating for the company in a research report on Thursday, June 27th. Two analysts have 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 stock has a consensus rating of Moderate Buy and a consensus target price of $99.17.

Workiva Stock Down 0.6 %

Shares of WK stock opened at $71.33 on Friday. The stock has a market cap of $3.91 billion, a P/E ratio of -41.47 and a beta of 1.07. Workiva has a 52 week low of $65.47 and a 52 week high of $116.00. The company’s fifty day simple moving average is $73.43 and its two-hundred day simple moving average is $81.13.

Workiva (NYSE:WK) last announced its earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $177.50 million for the quarter, compared to analysts’ expectations of $175.22 million. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.36) EPS. On average, analysts anticipate that Workiva will post -0.62 EPS for the current fiscal year.

Institutional Trading of Workiva

A number of hedge funds and other institutional investors have recently made changes to their positions in WK. EntryPoint Capital LLC acquired a new stake in Workiva during the first quarter valued at $40,000. Fidelis Capital Partners LLC purchased a new position in shares of Workiva in the first quarter worth about $45,000. RiverPark Advisors LLC lifted its stake in shares of Workiva by 361.5% in the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after buying an additional 893 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Workiva in the fourth quarter worth about $107,000. Finally, Fifth Third Bancorp lifted its stake in shares of Workiva by 9.0% in the first quarter. Fifth Third Bancorp now owns 1,692 shares of the software maker’s stock worth $143,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds 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.