The Goldman Sachs Group Cuts Workiva (NYSE:WK) Price Target to $118.00

Workiva (NYSE:WK) had its price objective trimmed by The Goldman Sachs Group from $132.00 to $118.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other brokerages also recently weighed in on WK. Stephens assumed coverage on shares of Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target on the stock. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Robert W. Baird raised their price target on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets decreased their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

Workiva Stock Down 3.0 %

WK stock opened at $78.66 on Friday. The business’s 50-day moving average price is $91.56 and its 200-day moving average price is $92.45. The stock has a market cap of $4.41 billion, a P/E ratio of -85.50 and a beta of 1.09. Workiva has a twelve month low of $65.47 and a twelve month high of $116.83.

Insider Transactions at Workiva

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WK. Vanguard Group Inc. raised its position in Workiva by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock valued at $635,108,000 after purchasing an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Workiva by 10.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock valued at $235,209,000 after buying an additional 200,220 shares during the period. Conestoga Capital Advisors LLC lifted its position in Workiva by 13.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after buying an additional 140,310 shares during the last quarter. Geode Capital Management LLC boosted its stake in Workiva by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock worth $90,597,000 after buying an additional 35,029 shares during the period. Finally, First Trust Advisors LP boosted its stake in Workiva by 3.0% during the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock worth $90,252,000 after buying an additional 24,172 shares during the period. Institutional investors own 92.21% of the company’s stock.

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.