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

Workiva Inc. (NYSE:WK) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $122.14.

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Friday, January 3rd. The Goldman Sachs Group raised their target price on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets increased their price objective on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup raised their price target on Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

Hedge Funds Weigh In On Workiva

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB bought a new position in Workiva in the 4th quarter worth $59,894,000. Groupama Asset Managment purchased a new stake in shares of Workiva during the third quarter worth about $381,000. Jacobs Levy Equity Management Inc. purchased a new position in Workiva in the 3rd quarter worth approximately $18,000,000. Janus Henderson Group PLC grew its holdings in Workiva by 839.8% during the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock valued at $16,919,000 after buying an additional 191,078 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Workiva by 435.5% during the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock valued at $11,503,000 after buying an additional 118,234 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Trading Down 1.5 %

Shares of NYSE WK opened at $112.05 on Friday. The firm’s 50 day simple moving average is $104.08 and its two-hundred day simple moving average is $86.31. Workiva has a one year low of $65.47 and a one year high of $116.83.

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.