Zacks Investment Research upgraded shares of Workiva (NYSE:WK) from a sell rating to a hold rating in a report issued on Saturday, January 13th.
According to Zacks, “Workiva LLC offers a cloud-based and mobile-enabled platform for enterprises to collect, manage, report and analyze critical business data in real time. The company provides solutions for compliance, risk, sustainability and management reporting as well as enterprise risk management. It serves the manufacturing and materials, energy and utilities, financial services, healthcare, media and entertainment, real estate, retail, consumer goods, services, transportation and technology and telecom industries. Workiva LLC is headquartered in Ames, Iowa. “
A number of other research firms have also recently commented on WK. Credit Suisse Group raised their price target on Workiva from $19.00 to $21.00 and gave the company a neutral rating in a report on Wednesday, November 8th. Stifel Nicolaus lifted their target price on Workiva from $23.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, November 8th. SunTrust Banks reaffirmed a buy rating and issued a $24.00 target price on shares of Workiva in a report on Friday, November 3rd. Northland Securities reaffirmed a buy rating and issued a $23.00 target price on shares of Workiva in a report on Sunday, October 29th. Finally, Morgan Stanley lifted their target price on Workiva from $18.00 to $19.00 and gave the stock an equal weight rating in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $22.14.
Workiva (NYSE:WK) traded up $0.35 during trading hours on Friday, reaching $22.10. The company’s stock had a trading volume of 139,552 shares, compared to its average volume of 97,362. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of -1.29. The company has a market capitalization of $911.93, a PE ratio of -24.29 and a beta of 0.63. Workiva has a twelve month low of $12.15 and a twelve month high of $23.70.
Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.17. The business had revenue of $52.10 million for the quarter, compared to the consensus estimate of $50.64 million. Workiva’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. research analysts forecast that Workiva will post -1.1 EPS for the current year.
In other news, major shareholder Jerome M. Behar sold 2,442 shares of Workiva stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total value of $57,142.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 33.29% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WK. Old Mutual Global Investors UK Ltd. purchased a new position in Workiva in the third quarter worth about $106,000. ETF Managers Group LLC purchased a new position in Workiva in the second quarter worth about $118,000. Legal & General Group Plc grew its position in Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after acquiring an additional 597 shares in the last quarter. Voya Investment Management LLC purchased a new position in Workiva in the second quarter worth about $192,000. Finally, GSA Capital Partners LLP purchased a new position in Workiva in the third quarter worth about $224,000. Institutional investors own 35.15% 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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