Workiva (NYSE:WK) Given “Outperform” Rating at William Blair

William Blair reaffirmed their outperform rating on shares of Workiva (NYSE:WK) in a report published on Friday, Zacks.com reports.

A number of other analysts also recently commented on WK. BMO Capital Markets dropped their target price on shares of Workiva from $123.00 to $113.00 and set an outperform rating on the stock in a report on Wednesday, February 21st. Citigroup dropped their price target on Workiva from $110.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. Finally, Stifel Nicolaus reduced their price objective on Workiva from $92.00 to $85.00 and set a hold rating for the company in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workiva currently has an average rating of Moderate Buy and a consensus price target of $111.86.

Workiva Price Performance

WK opened at $81.87 on Friday. The business has a 50 day moving average price of $82.27 and a two-hundred day moving average price of $90.39. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -47.60 and a beta of 1.04. Workiva has a 1-year low of $76.63 and a 1-year high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $166.65 million during the quarter, compared to analyst estimates of $164.44 million. Equities analysts expect that Workiva will post -0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WK. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Workiva by 16.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,934 shares of the software maker’s stock valued at $1,007,000 after buying an additional 1,389 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Workiva during the third quarter worth $279,000. Strs Ohio boosted its position in Workiva by 9.4% during the third quarter. Strs Ohio now owns 5,800 shares of the software maker’s stock valued at $587,000 after purchasing an additional 500 shares during the last quarter. Advisor Partners II LLC purchased a new position in Workiva in the third quarter valued at about $349,000. Finally, Park Avenue Securities LLC purchased a new position in Workiva in the third quarter valued at about $794,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.