Stifel Nicolaus Lowers Workiva Price Target to $85 Amid Mixed Financial Signals

Financial analysis giant Stifel Nicolaus has adjusted its price target for Workiva (NYSE:WK), a prominent software company, reducing it from the previous $92.00 to $85.00. This revision, announced on Wednesday, reflects the firm's neutral stance with a maintained 'hold' rating on the company shares, according to recent reports by Benzinga.

Workiva Price Performance

The trading session on Wednesday saw Workiva's shares kick off at $87.47. Currently, the company possesses a market capitalization of $4.73 billion. Although Workiva presents a negative price-to-earnings ratio of -36.91 and a remarkably high debt-to-equity ratio of 2,262.59, the company maintains robust liquidity ratios with a current ratio of 2.08 and a quick ratio of 2.16. Over time, its 50-day simple moving average has been noted at $95.64, while the 200-day simple moving average lingers around $98.00. The stock has fluctuated between a one-year low of $80.50 and a one-year high of $116.00.

Insider Activity

Insiders in the company have made notable transactions recently. EVP Michael D. Hawkins sold 11,439 shares, averaging $93.62 per share, amounting to a total of $1,070,919.18. Post-transaction, Hawkins retains 62,453 shares, valued at approximately $5.84 million. These transactions were openly disclosed in filings with the Securities & Exchange Commission. CFO Jill Klindt also sold 2,931 shares at a price of $95.20, resulting in $279,031.20, and now directly holds 80,197 shares, estimated to be worth around $7.63 million.

Hedge Funds Weigh In On Workiva

Hedge funds have shown active interest in Workiva, with several professional investment firms adjusting their holdings. For instance, Raymond James & Associates increased its stake in the software maker by 4.8%, now owning 36,473 shares valued at over $4.3 million. MetLife Investment Management LLC expanded its Workiva shareholdings by 54.8%, and financial services firm Vanguard Group Inc. upped its stake by 3.6%, reaching a considerable total of 4,316,544 shares. Institutional investors claim ownership of 83.69% of Workiva's stock.

About Workiva

Workiva Inc, alongside its subsidiaries, offers innovative cloud-based solutions assisting businesses worldwide with compliance and regulatory reporting. Their platform facilitates secure collaboration, process management, and ensures an extensive audit trail, while integrating seamlessly with various essential business systems.

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