Workiva (NYSE:WK) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Workiva (NYSE:WK) from a sell rating to a hold rating in a report published 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. “

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus boosted 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 reissued a buy rating and issued a $24.00 target price on shares of Workiva in a report on Friday, November 3rd. Northland Securities reissued a buy rating and issued a $23.00 target price on shares of Workiva in a report on Sunday, October 29th. TheStreet raised Workiva from a d rating to a c- rating in a report on Wednesday, December 13th. Finally, Morgan Stanley boosted 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $22.14.

Shares of Workiva (NYSE:WK) opened at $22.30 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of -1.29. Workiva has a 1-year low of $12.55 and a 1-year high of $23.70. The company has a market capitalization of $934.99, a price-to-earnings ratio of -24.51 and a beta of 0.63.

Workiva (NYSE:WK) last released its earnings results on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.17. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $50.64 million. During the same period last year, the firm posted ($0.23) earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. sell-side analysts anticipate that Workiva will post -1.1 EPS for the current fiscal year.

In related news, major shareholder Jerome M. Behar sold 2,442 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total transaction of $57,142.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jerome M. Behar sold 46,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.15, for a total value of $1,018,900.00. The disclosure for this sale can be found here. 33.29% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of WK. Old Mutual Global Investors UK Ltd. purchased a new stake in Workiva during the third quarter valued at $106,000. ETF Managers Group LLC purchased a new stake in Workiva during the second quarter valued at $118,000. Legal & General Group Plc increased its position in Workiva by 9.3% during the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after acquiring an additional 597 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Workiva during the second quarter valued at $192,000. Finally, GSA Capital Partners LLP purchased a new stake in Workiva during the third quarter valued at $224,000. Institutional investors own 35.17% 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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