Workiva (NYSE:WK) Shares Gap Up – Time to Buy?

Workiva Inc. (NYSE:WK) gapped up prior to trading on Wednesday . The stock had previously closed at $109.29, but opened at $112.57. Workiva shares last traded at $114.12, with a volume of 93,953 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird lifted their price target on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and increased their target price for the stock from $102.00 to $130.00 in a report on Wednesday. Citigroup boosted their price target on shares of Workiva from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. Finally, BMO Capital Markets lifted their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.40.

Workiva Stock Performance

The business’s fifty day moving average is $89.86 and its 200-day moving average is $80.21. The firm has a market cap of $6.39 billion, a P/E ratio of -125.58 and a beta of 1.09.

Institutional Trading of Workiva

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WK. Versor Investments LP bought a new stake in shares of Workiva during the 3rd quarter valued at about $1,217,000. TimesSquare Capital Management LLC increased its stake in Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after purchasing an additional 19,095 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Workiva by 138.8% during the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker’s stock valued at $4,277,000 after purchasing an additional 31,421 shares during the period. GSA Capital Partners LLP bought a new position in shares of Workiva during the 3rd quarter worth about $641,000. Finally, Impax Asset Management Group plc grew its stake in shares of Workiva by 16.5% in the 3rd quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker’s stock valued at $12,547,000 after buying an additional 22,500 shares during the period. Institutional investors and hedge funds 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.