Published On: Thu, Sep 8th, 2016

Raymond James Financial Inc. Raises Workiva Inc. (WK) Price Target to $21.00

Workiva Inc. (NYSE:WK) had its price objective boosted by equities researchers at Raymond James Financial Inc. from $16.00 to $21.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Raymond James Financial Inc.’s target price suggests a potential upside of 14.44% from the stock’s previous close.
A number of other brokerages have also issued reports on WK. Morgan Stanley reiterated an “overweight” rating on shares of Workiva in a report on Wednesday, June 29th. Stifel Nicolaus boosted their price target on Workiva from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered Workiva from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $18.00 price target on shares of Workiva in a report on Thursday, August 18th. Six research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $19.40.
Workiva (NYSE:WK) traded up 1.31% during mid-day trading on Thursday, hitting $18.59. The company’s stock had a trading volume of 261,871 shares. The firm’s 50-day moving average is $16.09 and its 200-day moving average is $13.45. The company’s market cap is $763.27 million. Workiva has a 12-month low of $10.91 and a 12-month high of $19.04.

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Workiva (NYSE:WK) last released its earnings results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. The business had revenue of $43 million for the quarter, compared to the consensus estimate of $42.07 million. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. Analysts predict that Workiva will post ($0.98) EPS for the current fiscal year.
In other Workiva news, VP Joseph H. Howell sold 3,366 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $14.00, for a total transaction of $47,124.00. Following the completion of the sale, the vice president now owns 15,581 shares in the company, valued at $218,134. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 90,000 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $18.03, for a total value of $1,622,700.00. The disclosure for this sale can be found here. Company insiders own 33.40% of the company’s stock.
Other hedge funds recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Workiva by 33.3% in the first quarter. Renaissance Technologies LLC now owns 15,600 shares of the company’s stock worth $182,000 after buying an additional 3,900 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Workiva during the first quarter worth $369,000. Strs Ohio increased its position in shares of Workiva by 8.3% in the second quarter. Strs Ohio now owns 35,100 shares of the company’s stock worth $479,000 after buying an additional 2,700 shares during the last quarter. State Street Corp increased its position in shares of Workiva by 12.9% in the first quarter. State Street Corp now owns 78,230 shares of the company’s stock worth $911,000 after buying an additional 8,940 shares during the last quarter. Finally, Mairs & Power INC acquired a new position in shares of Workiva during the fourth quarter worth about $1,466,000. Institutional investors own 32.57% of the company’s stock.
Workiva Company Profile
Workiva Inc develops Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. The Wdesk word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.

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