Workiva Inc. (NYSE:WK) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $19.43.
WK has been the topic of a number of recent research reports. BidaskClub downgraded Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. SunTrust Banks, Inc. initiated coverage on Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 target price on the stock. Stifel Nicolaus boosted their target price on Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Northland Securities restated a “buy” rating and issued a $18.00 target price on shares of Workiva in a research note on Friday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (up previously from $16.00) on shares of Workiva in a research note on Tuesday, July 25th.
Workiva (WK) opened at 19.75 on Friday. Workiva has a 52-week low of $12.15 and a 52-week high of $20.95. The firm has a 50-day moving average price of $19.75 and a 200 day moving average price of $17.40. The firm’s market capitalization is $826.06 million.
Workiva (NYSE:WK) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The firm had revenue of $49.40 million for the quarter, compared to the consensus estimate of $48.37 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts forecast that Workiva will post ($0.63) EPS for the current year.
In other Workiva news, major shareholder Jerome M. Behar sold 76,520 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.27, for a total value of $1,398,020.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jerome M. Behar sold 125,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $20.52, for a total value of $2,565,000.00. The disclosure for this sale can be found here. Insiders sold 430,250 shares of company stock worth $8,435,308 in the last 90 days. Corporate insiders own 33.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Workiva by 64.0% in the fourth quarter. Renaissance Technologies LLC now owns 61,000 shares of the software maker’s stock worth $833,000 after buying an additional 23,800 shares in the last quarter. American International Group Inc. boosted its stake 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 worth $212,000 after buying an additional 888 shares in the last quarter. State Street Corp boosted its stake in shares of Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock worth $4,524,000 after buying an additional 13,881 shares in the last quarter. Oberndorf William E boosted its stake in shares of Workiva by 38.8% in the first quarter. Oberndorf William E now owns 2,369,384 shares of the software maker’s stock worth $37,081,000 after buying an additional 662,408 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Workiva during the first quarter worth $5,678,000. 41.18% of the stock is owned by 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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