Workiva (NYSE:WK) Price Target Cut to $95.00 by Analysts at Truist Financial

Workiva (NYSE:WK) had its target price lowered by equities research analysts at Truist Financial from $120.00 to $95.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Truist Financial’s price target would suggest a potential upside of 45.33% from the stock’s current price.

A number of other brokerages have also recently commented on WK. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a report on Friday, January 3rd. BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Stephens initiated coverage on shares of Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target for the company. Finally, Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.78.

Workiva Stock Down 3.3 %

Shares of WK traded down $2.20 on Monday, reaching $65.37. The stock had a trading volume of 132,111 shares, compared to its average volume of 466,612. The firm has a 50-day moving average of $88.44 and a 200 day moving average of $92.38. The firm has a market capitalization of $3.67 billion, a PE ratio of -70.87 and a beta of 1.02. Workiva has a twelve month low of $58.00 and a twelve month high of $116.83.

Insider Transactions at Workiva

In related news, EVP Michael D. Hawkins sold 10,421 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total value of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares in the company, valued at approximately $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. This trade represents a 2.85 % 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 worth $1,807,333 in the last ninety days. Insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new stake in shares of Workiva in the fourth quarter worth about $25,000. Johnson Financial Group Inc. acquired a new stake in Workiva in the fourth quarter valued at approximately $66,000. GeoWealth Management LLC grew its position in Workiva by 3,010.0% in the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after acquiring an additional 602 shares in the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Workiva during the first quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock worth $97,000 after purchasing an additional 879 shares in the last quarter. 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.