Equities analysts predict that Workiva Inc (NYSE:WK) will report $57.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Workiva’s earnings. The highest sales estimate is $57.80 million and the lowest is $57.36 million. Workiva reported sales of $51.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 11%. The business is scheduled to report its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Workiva will report full year sales of $57.63 million for the current fiscal year, with estimates ranging from $235.00 million to $235.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $267.01 million per share, with estimates ranging from $263.66 million to $268.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Workiva.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. The firm had revenue of $54.51 million during the quarter, compared to analysts’ expectations of $53.28 million. Workiva’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share.
Several brokerages recently weighed in on WK. Northland Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of Workiva in a research note on Friday, February 23rd. Raymond James Financial cut Workiva from an “outperform” rating to a “market perform” rating in a research note on Friday, February 23rd. TheStreet raised Workiva from a “d” rating to a “c-” rating in a research note on Wednesday, December 13th. ValuEngine raised Workiva from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus upped their price target on Workiva from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.86.
Shares of Workiva (NYSE:WK) traded up $0.30 during mid-day trading on Friday, reaching $24.05. The company had a trading volume of 194,338 shares, compared to its average volume of 247,724. The stock has a market capitalization of $1,004.58, a PE ratio of -22.48 and a beta of 0.58. Workiva has a 12 month low of $14.85 and a 12 month high of $26.75. The company has a debt-to-equity ratio of -1.09, a quick ratio of 0.89 and a current ratio of 0.89.
In other news, Director Eugene S. Katz sold 6,000 shares of the stock in a transaction 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 sale, the director now directly owns 124,836 shares of the company’s stock, valued at $2,850,005.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 11,080 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.66, for a total value of $284,312.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,923 shares of company stock worth $6,141,505. Insiders own 33.29% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Workiva by 3.0% in the fourth quarter. BlackRock Inc. now owns 1,484,847 shares of the software maker’s stock worth $31,776,000 after acquiring an additional 43,388 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Workiva by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock worth $25,459,000 after acquiring an additional 147,450 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Workiva by 73.6% during the fourth quarter. Renaissance Technologies LLC now owns 758,300 shares of the software maker’s stock valued at $16,228,000 after purchasing an additional 321,394 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Workiva by 16.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 470,151 shares of the software maker’s stock valued at $10,061,000 after purchasing an additional 66,950 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Workiva by 12.3% during the second quarter. State Street Corp now owns 371,323 shares of the software maker’s stock valued at $7,074,000 after purchasing an additional 40,657 shares in the last quarter. 40.30% of the stock is currently owned by hedge funds and other institutional investors.
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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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