Workiva (NYSE:WK) Hits New 52-Week Low – Here’s What Happened

Workiva Inc. (NYSE:WK)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $59.60 and last traded at $59.0780, with a volume of 49479 shares trading hands. The stock had previously closed at $61.93.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on Workiva from $100.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Workiva in a research report on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 price objective 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 issued a “buy” rating and a $105.00 target price for the company. Finally, Stifel Nicolaus set a $98.00 price target on shares of Workiva in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Workiva Price Performance

The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -68.84 and a beta of 0.62. The firm’s fifty day moving average is $81.87 and its 200-day moving average is $83.49.

Institutional Investors Weigh In On Workiva

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Workiva by 287.8% during the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after purchasing an additional 213 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Workiva in the 4th quarter worth about $26,000. Leonteq Securities AG bought a new stake in shares of Workiva during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its stake in Workiva by 217.9% during the third quarter. EverSource Wealth Advisors LLC now owns 391 shares of the software maker’s stock worth $34,000 after acquiring an additional 268 shares during the period. Finally, Quarry LP boosted its stake in Workiva by 396.3% in the fourth quarter. Quarry LP now owns 407 shares of the software maker’s stock valued at $35,000 after acquiring an additional 325 shares during the period. 92.21% of the stock is currently owned by institutional investors.

About Workiva

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.