Workiva (NYSE:WK) Price Target Raised to $133.00

Workiva (NYSE:WK) had its price target upped by The Goldman Sachs Group from $120.00 to $133.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities research analysts have also issued reports on WK. Stifel Nicolaus raised shares of Workiva from a “hold” rating to a “buy” rating and lifted their target price for the company from $102.00 to $130.00 in a research note on Wednesday, December 18th. Robert W. Baird boosted their target price on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Raymond James raised 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. Citigroup boosted their price target on Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets raised their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.14.

Workiva Stock Performance

WK stock opened at $109.80 on Tuesday. The firm has a 50 day simple moving average of $102.21 and a 200 day simple moving average of $85.37. Workiva has a 52 week low of $65.47 and a 52 week high of $116.83. The stock has a market cap of $6.08 billion, a P/E ratio of -119.35 and a beta of 1.07.

Institutional Investors Weigh In On Workiva

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB bought a new position in shares of Workiva in the fourth quarter valued at approximately $59,894,000. Groupama Asset Managment bought a new position in Workiva in the 3rd quarter worth $381,000. Jacobs Levy Equity Management Inc. acquired a new position in Workiva during the 3rd quarter worth $18,000,000. Janus Henderson Group PLC lifted its position in Workiva by 839.8% during the 3rd quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker’s stock worth $16,919,000 after acquiring an additional 191,078 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Workiva by 435.5% during the third quarter. Assenagon Asset Management S.A. now owns 145,384 shares of the software maker’s stock valued at $11,503,000 after acquiring an additional 118,234 shares during the period. 92.21% of the stock is currently 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.