Workiva (NYSE:WK) Reaches New 1-Year Low – What’s Next?

by · The Cerbat Gem

Workiva Inc. (NYSE:WK – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $64.30 and last traded at $64.61, with a volume of 111263 shares. The stock had previously closed at $69.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Stifel Nicolaus cut 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. Raymond James raised shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. The Goldman Sachs Group dropped their target price on Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, 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 research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Get Our Latest Research Report on Workiva

Workiva Trading Down 2.5 %

The business has a fifty day simple moving average of $89.03 and a two-hundred day simple moving average of $92.22. The company has a market cap of $3.79 billion, a PE ratio of -73.40 and a beta of 1.02.

Insider Transactions at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the sale, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock valued at $1,807,333. Corporate insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Several hedge funds have recently made changes to their positions in WK. Twin Tree Management LP acquired a new position in Workiva in the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. purchased a new position in shares of Workiva during the 4th quarter worth $66,000. GeoWealth Management LLC raised its holdings in Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after buying an additional 602 shares during the period. Global Wealth Strategies & Associates acquired a new position in Workiva in the first quarter valued at about $53,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after acquiring an additional 879 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

(Get Free Report)

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.

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