Workiva Inc (NYSE:WK) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.83.
Several research firms have recently commented on WK. Northland Securities reaffirmed a “buy” rating and issued a $27.00 target price on shares of Workiva in a research report on Friday, February 23rd. Raymond James Financial downgraded Workiva from an “outperform” rating to a “market perform” rating in a research report on Friday, February 23rd. TheStreet upgraded Workiva from a “d” rating to a “c-” rating in a research note on Wednesday, December 13th. ValuEngine upgraded Workiva from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on Workiva from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 23rd.
In related news, Director Eugene S. Katz sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $22.83, for a total value of $136,980.00. Following the completion of the sale, the director now directly owns 124,836 shares in the company, valued at $2,850,005.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jerome M. Behar sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $22.95, for a total value of $1,147,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,923 shares of company stock valued at $6,141,505. 33.29% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WK. Renaissance Technologies LLC lifted its stake in Workiva by 73.6% during the fourth quarter. Renaissance Technologies LLC now owns 758,300 shares of the software maker’s stock worth $16,228,000 after purchasing an additional 321,394 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Workiva during the fourth quarter worth $4,261,000. EAM Investors LLC bought a new position in shares of Workiva in the 3rd quarter valued at $2,122,000. Frontier Capital Management Co. LLC lifted its stake in shares of Workiva by 16.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 470,151 shares of the software maker’s stock valued at $10,061,000 after acquiring an additional 66,950 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Workiva by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 229,961 shares of the software maker’s stock valued at $4,920,000 after acquiring an additional 52,766 shares during the last quarter. Hedge funds and other institutional investors own 37.25% of the company’s stock.
Workiva (WK) traded down $0.20 during trading on Wednesday, hitting $23.85. The stock had a trading volume of 124,320 shares, compared to its average volume of 245,395. Workiva has a 52 week low of $14.85 and a 52 week high of $26.75. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of -1.09. The firm has a market capitalization of $1,023.74, a P/E ratio of -22.48 and a beta of 0.58.
Workiva (NYSE:WK) last posted its earnings results on Thursday, February 22nd. The software maker reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.03. The firm had revenue of $54.51 million during the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the company posted ($0.09) EPS. Workiva’s revenue for the quarter was up 17.5% compared to the same quarter last year. sell-side analysts predict that Workiva will post -1.36 EPS for the current year.
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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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