Workiva (NYSE:WK) Earns “Outperform” Rating from William Blair

William Blair restated their outperform rating on shares of Workiva (NYSE:WK) in a report issued on Friday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Citigroup decreased 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. BMO Capital Markets decreased their target price on Workiva from $123.00 to $113.00 and set an outperform rating for the company in a report on Wednesday, February 21st. Finally, Stifel Nicolaus cut their price target on Workiva from $92.00 to $85.00 and set a hold rating on the stock in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $111.86.

Workiva Price Performance

NYSE:WK opened at $81.87 on Friday. The company’s 50-day moving average is $82.27 and its two-hundred day moving average is $90.39. Workiva has a 1-year low of $76.63 and a 1-year high of $116.00. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of -47.60 and a beta of 1.04.

Workiva (NYSE:WK) last announced its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. As a group, equities analysts anticipate that Workiva will post -0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its position in Workiva by 1,318.3% in the 1st quarter. SG Americas Securities LLC now owns 14,935 shares of the software maker’s stock valued at $1,266,000 after buying an additional 13,882 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in Workiva in the 1st quarter valued at approximately $404,000. RiverPark Advisors LLC increased its position in Workiva by 361.5% during the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after purchasing an additional 893 shares during the period. FORA Capital LLC boosted its position in shares of Workiva by 17.1% during the 1st quarter. FORA Capital LLC now owns 5,478 shares of the software maker’s stock worth $465,000 after purchasing an additional 801 shares in the last quarter. Finally, Hardy Reed LLC boosted its position in shares of Workiva by 6.7% during the 1st quarter. Hardy Reed LLC now owns 3,425 shares of the software maker’s stock worth $290,000 after purchasing an additional 215 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.