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

Workiva (NYSE:WK) had its target price reduced by Citigroup from $110.00 to $95.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Workiva from $123.00 to $113.00 and set an outperform rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus decreased their price target on shares of Workiva from $92.00 to $85.00 and set a hold rating for the company in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $111.63.

Workiva Price Performance

Shares of Workiva stock opened at $80.65 on Tuesday. The company has a market capitalization of $4.41 billion, a P/E ratio of -34.03 and a beta of 1.03. Workiva has a 1 year low of $76.63 and a 1 year high of $116.00. The business has a 50 day moving average price of $83.43 and a 200 day moving average price of $91.45.

Workiva (NYSE:WK) last released its earnings results on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, research analysts expect that Workiva will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Workiva

Large investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in Workiva in the third quarter worth about $54,000. SG Americas Securities LLC acquired a new stake in shares of Workiva in the fourth quarter valued at approximately $107,000. GPS Wealth Strategies Group LLC increased its stake in shares of Workiva by 19.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock valued at $109,000 after purchasing an additional 175 shares during the period. Vinva Investment Management Ltd acquired a new stake in shares of Workiva in the third quarter valued at approximately $162,000. Finally, Fifth Third Bancorp increased 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 valued at $143,000 after purchasing an additional 140 shares during the period. 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.