Workiva (NYSE:WK) Shares Gap Up to $80.04

Shares of Workiva Inc. (NYSE:WK) gapped up prior to trading on Friday . The stock had previously closed at $80.04, but opened at $87.55. Workiva shares last traded at $83.09, with a volume of 177,033 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WK shares. BMO Capital Markets lowered their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Stifel Nicolaus lowered their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, February 21st. Finally, Citigroup dropped their price target on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus target price of $111.86.

Workiva Stock Performance

The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -47.49 and a beta of 1.04. The business’s 50-day moving average is $82.33 and its 200-day moving average is $90.59.

Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. Equities research analysts expect that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Institutional Trading of Workiva

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Workiva by 16.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,934 shares of the software maker’s stock valued at $1,007,000 after purchasing an additional 1,389 shares during the last quarter. Mackenzie Financial Corp bought a new position in Workiva in the 3rd quarter valued at $279,000. GPS Wealth Strategies Group LLC increased its stake in shares of Workiva by 19.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock valued at $109,000 after buying an additional 175 shares during the period. Strs Ohio raised its position in shares of Workiva by 9.4% during the third quarter. Strs Ohio now owns 5,800 shares of the software maker’s stock worth $587,000 after acquiring an additional 500 shares during the last quarter. Finally, Advisor Partners II LLC acquired a new position in shares of Workiva during the third quarter valued at $349,000. Institutional investors 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.