Workiva (NYSE:WK) Given New $118.00 Price Target at The Goldman Sachs Group

Workiva (NYSE:WK) had its price target reduced by equities research analysts at The Goldman Sachs Group from $132.00 to $118.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 49.88% from the company’s current price.

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

Workiva Stock Down 2.9 %

Shares of WK traded down $2.35 during mid-day trading on Friday, hitting $78.73. The company had a trading volume of 158,778 shares, compared to its average volume of 447,155. Workiva has a 1-year low of $65.47 and a 1-year high of $116.83. The business’s 50-day simple moving average is $92.23 and its 200-day simple moving average is $92.11. The stock has a market cap of $4.42 billion, a PE ratio of -85.64 and a beta of 1.09.

Insider Buying and Selling at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 in the last three months. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new stake in shares of Workiva in the fourth quarter valued at $25,000. Johnson Financial Group Inc. bought a new position in Workiva in the 4th quarter worth about $66,000. GeoWealth Management LLC boosted its stake in Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after purchasing an additional 602 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Workiva by 14,650.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.