Workiva (NYSE:WK) Raised to “Buy” at Stifel Nicolaus

Workiva (NYSE:WK) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $130.00 price objective on the software maker’s stock, up from their previous price objective of $102.00. Stifel Nicolaus’ price target indicates a potential upside of 18.94% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Robert W. Baird increased their price target on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Citigroup increased their target price on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price target on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Workiva currently has an average rating of “Moderate Buy” and an average target price of $117.40.

Workiva Trading Up 3.7 %

Shares of NYSE:WK opened at $109.30 on Wednesday. The stock has a market cap of $6.05 billion, a PE ratio of -118.80 and a beta of 1.09. The stock’s fifty day simple moving average is $89.86 and its two-hundred day simple moving average is $80.21. Workiva has a 1-year low of $65.47 and a 1-year high of $109.91.

Institutional Trading of Workiva

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of Workiva by 2.0% in the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock worth $498,000 after purchasing an additional 137 shares during the last quarter. Quarry LP lifted its holdings in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after buying an additional 166 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Workiva by 8.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after buying an additional 179 shares during the period. Xponance Inc. grew its position in shares of Workiva by 6.0% in the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock worth $233,000 after buying an additional 182 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Workiva by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock valued at $358,000 after buying an additional 183 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.