Workiva (NYSE:WK) Hits New 12-Month High – Time to Buy?

Workiva Inc. (NYSE:WK) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $105.03 and last traded at $104.66, with a volume of 320240 shares trading hands. The stock had previously closed at $103.01.

Analyst Ratings Changes

WK has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and a consensus price target of $103.20.

Workiva Trading Up 1.6 %

The company’s 50 day simple moving average is $87.74 and its 200-day simple moving average is $79.46. The firm has a market cap of $5.80 billion, a P/E ratio of -111.88 and a beta of 1.09.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares in the company, valued at $3,721,570.20. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Workiva

Several large investors have recently added to or reduced their stakes in WK. Groupama Asset Managment bought a new position in shares of Workiva in 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 boosted its stake in Workiva by 839.8% in the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after purchasing an additional 191,078 shares during the period. Assenagon Asset Management S.A. grew its holdings in Workiva by 435.5% during the 3rd 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 in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in Workiva by 13.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 728,375 shares of the software maker’s stock valued at $57,629,000 after buying an additional 86,746 shares in the last quarter. Hedge funds and other 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.