Truist Financial Cuts Workiva (NYSE:WK) Price Target to $95.00

Workiva (NYSE:WK) had its price target reduced by Truist Financial from $120.00 to $95.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the software maker’s stock.

WK has been the topic of several other reports. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. Stifel Nicolaus lowered their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Robert W. Baird upped their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their price target on shares of Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.78.

Workiva Price Performance

Shares of WK opened at $69.30 on Monday. Workiva has a one year low of $60.50 and a one year high of $116.83. The company has a market cap of $3.89 billion, a P/E ratio of -75.33 and a beta of 1.02. The firm has a 50 day simple moving average of $84.98 and a two-hundred day simple moving average of $91.73.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock valued at $1,807,333 over the last three months. 3.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Workiva by 4.1% in the 1st quarter. Rhumbline Advisers now owns 74,495 shares of the software maker’s stock valued at $5,655,000 after buying an additional 2,921 shares in the last quarter. Summit Global Investments purchased a new position in Workiva during the 1st quarter valued at about $481,000. GAMMA Investing LLC increased its stake in Workiva by 8,443.7% during the 1st quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker’s stock worth $1,602,000 after buying an additional 20,856 shares during the period. Global Wealth Strategies & Associates acquired a new stake in shares of Workiva in the first quarter valued at $53,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Workiva during the fourth quarter worth approximately $5,825,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.