Workiva’s (WK) “Outperform” Rating Reiterated at William Blair

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

Several other equities analysts have also recently weighed in on WK. Stifel Nicolaus dropped their price objective on Workiva from $92.00 to $85.00 and set a hold rating for the company in a report on Wednesday, February 21st. Citigroup dropped their price target on Workiva from $110.00 to $95.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $111.86.

Workiva Stock Performance

WK stock opened at $81.87 on Friday. Workiva has a 52 week low of $76.63 and a 52 week high of $116.00. The company’s 50-day simple moving average is $82.27 and its 200 day simple moving average is $90.39. The company has a market capitalization of $4.48 billion, a PE ratio of -47.60 and a beta of 1.04.

Workiva (NYSE:WK) last announced 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 business had revenue of $166.65 million for the quarter, compared to the consensus estimate of $164.44 million. On average, analysts forecast that Workiva will post -0.84 EPS for the current year.

Institutional Investors Weigh In On Workiva

A number of hedge funds have recently made changes to their positions in WK. Mackenzie Financial Corp lifted its stake in Workiva by 3.8% in the 4th quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock valued at $302,000 after purchasing an additional 108 shares during the last quarter. Wealth Alliance lifted its stake in shares of Workiva by 4.8% in the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock valued at $266,000 after acquiring an additional 121 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Workiva by 7.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock valued at $168,000 after acquiring an additional 132 shares in the last quarter. Victory Capital Management Inc. grew its position in Workiva by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,201 shares of the software maker’s stock worth $527,000 after acquiring an additional 136 shares during the last quarter. Finally, Foster Group Inc. increased its holdings in Workiva by 3.3% in the 3rd quarter. Foster Group Inc. now owns 4,368 shares of the software maker’s stock worth $443,000 after purchasing an additional 139 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.