TheStreet upgraded shares of Workiva (NYSE:WK) from a d rating to a c- rating in a report published on Wednesday morning.
A number of other brokerages have also recently weighed in on WK. Credit Suisse Group lifted their price target on shares of Workiva from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Wednesday, November 8th. Stifel Nicolaus boosted their price objective on shares of Workiva from $23.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed a buy rating and issued a $24.00 price objective on shares of Workiva in a research report on Friday, November 3rd. Northland Securities reaffirmed a buy rating and issued a $23.00 price objective on shares of Workiva in a research report on Sunday, October 29th. Finally, Morgan Stanley boosted their price objective on shares of Workiva from $18.00 to $19.00 and gave the company an equal weight rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $22.14.
Workiva (WK) opened at $21.60 on Wednesday. Workiva has a 52-week low of $12.15 and a 52-week high of $23.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of -1.29.
Workiva (NYSE:WK) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.17. The company had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $50.64 million. Workiva had a negative net margin of 18.83% and a negative return on equity of 13,251.94%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. analysts expect that Workiva will post -1.1 earnings per share for the current year.
In related news, major shareholder Jerome M. Behar sold 25,000 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $22.04, for a total value of $551,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 5,885 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $20.20, for a total transaction of $118,877.00. The disclosure for this sale can be found here. Insiders sold a total of 106,154 shares of company stock worth $2,256,241 over the last ninety days. 33.29% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of WK. Vanguard Group Inc. increased its stake in Workiva by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock valued at $25,459,000 after buying an additional 147,450 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Workiva by 905.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 158,336 shares of the software maker’s stock valued at $3,016,000 after buying an additional 142,595 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in Workiva in the 2nd quarter valued at $2,647,000. Frontier Capital Management Co. LLC increased its stake in Workiva by 34.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock valued at $9,272,000 after buying an additional 123,887 shares during the last quarter. Finally, Menta Capital LLC increased its stake in Workiva by 356.1% in the 2nd quarter. Menta Capital LLC now owns 142,553 shares of the software maker’s stock valued at $2,716,000 after buying an additional 111,295 shares during the last quarter. Hedge funds and other institutional investors own 35.19% of the company’s stock.
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Workiva Company Profile
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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