Citigroup Issues Positive Forecast for Workiva (NYSE:WK) Stock Price

Workiva (NYSE:WK) had its price objective raised by Citigroup from $128.00 to $130.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

WK has been the subject of a number of other reports. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday. 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 report on Friday, January 3rd. Robert W. Baird raised their target price on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Stifel Nicolaus decreased their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

Workiva Price Performance

Shares of NYSE WK opened at $89.61 on Wednesday. The company has a market cap of $4.96 billion, a PE ratio of -97.40 and a beta of 1.06. Workiva has a 12 month low of $65.47 and a 12 month high of $116.83. The company has a 50-day simple moving average of $102.42 and a 200-day simple moving average of $90.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 buying an additional 70,820 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Workiva by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock worth $235,209,000 after purchasing an additional 200,220 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Workiva by 13.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after purchasing an additional 140,310 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 35,029 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of 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 purchasing an additional 24,172 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.