Workiva Inc. (NYSE:WK)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a note issued to investors on Friday. They currently have a $23.00 price objective on the software maker’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 17.65% from the stock’s current price.
Several other brokerages also recently issued reports on WK. Credit Suisse Group raised their target price on shares of Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, May 5th. SunTrust Banks, Inc. initiated coverage on shares of Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 target price for the company. BidaskClub downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (up from $16.00) on shares of Workiva in a research note on Tuesday, July 25th. Finally, Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Workiva in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.13.
Workiva (NYSE WK) traded up 1.79% during trading on Friday, reaching $19.90. The company’s stock had a trading volume of 96,373 shares. The company’s 50 day moving average price is $19.63 and its 200 day moving average price is $17.10. Workiva has a 52 week low of $12.15 and a 52 week high of $20.95. The company’s market cap is $832.34 million.
Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The company had revenue of $49.40 million during the quarter, compared to the consensus estimate of $48.37 million. During the same period in the prior year, the business posted ($0.20) EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts anticipate that Workiva will post ($0.63) earnings per share for the current fiscal year.
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In other Workiva news, major shareholder Jerome M. Behar sold 76,520 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $18.27, for a total value of $1,398,020.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jerome M. Behar sold 56,121 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $18.77, for a total transaction of $1,053,391.17. The disclosure for this sale can be found here. Insiders sold a total of 383,863 shares of company stock valued at $7,507,568 over the last quarter. 33.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC acquired a new position in shares of Workiva during the second quarter valued at approximately $118,000. Legal & General Group Plc boosted its position in shares of Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after buying an additional 597 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Workiva during the second quarter valued at approximately $162,000. Voya Investment Management LLC acquired a new position in shares of Workiva during the second quarter valued at approximately $192,000. Finally, American International Group Inc. boosted its position in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock valued at $212,000 after buying an additional 888 shares in the last quarter. 41.18% of the stock is currently owned by hedge funds and other institutional investors.
About Workiva
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s 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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