Workiva (WK) Lifted 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 research report released on Friday.

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. “

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WK has been the subject of several other reports. Citigroup downgraded Workiva to a market perform rating in a research report on Friday, February 23rd. Northland Securities reiterated a buy rating and issued a $27.00 target price on shares of Workiva in a research report on Friday, February 23rd. SunTrust Banks reiterated a buy rating and issued a $28.00 target price on shares of Workiva in a research report on Friday, February 23rd. ValuEngine upgraded Workiva from a hold rating to a buy rating in a research report on Monday, April 2nd. Finally, Raymond James Financial downgraded Workiva from an outperform rating to a market perform rating in a research report on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Workiva presently has a consensus rating of Hold and a consensus price target of $23.86.

Shares of WK stock opened at $24.45 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of -1.09. Workiva has a twelve month low of $16.00 and a twelve month high of $26.75. The firm has a market cap of $1,038.64, a P/E ratio of -22.99 and a beta of 0.54.

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 the consensus estimate of $53.28 million. Workiva’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. research analysts expect that Workiva will post -1.36 earnings per share for the current fiscal year.

In other news, Director Eugene S. Katz sold 6,000 shares of the stock in a transaction dated 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 owns 124,836 shares of the company’s stock, valued at $2,850,005.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Jerome M. Behar sold 11,080 shares of the firm’s stock in a transaction that occurred 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. In the last three months, insiders sold 257,923 shares of company stock valued at $6,141,505. Insiders own 33.29% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its stake in Workiva by 16.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 470,151 shares of the software maker’s stock worth $10,061,000 after purchasing an additional 66,950 shares during the period. Bank of New York Mellon Corp grew its stake in Workiva by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 101,597 shares of the software maker’s stock worth $2,118,000 after purchasing an additional 5,033 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Workiva by 12.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 113,579 shares of the software maker’s stock worth $2,431,000 after purchasing an additional 12,886 shares during the period. The Manufacturers Life Insurance Company grew its stake in Workiva by 7.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 158,681 shares of the software maker’s stock worth $3,396,000 after purchasing an additional 10,640 shares during the period. Finally, Citadel Advisors LLC grew its stake in Workiva by 89.5% during the fourth quarter. Citadel Advisors LLC now owns 49,333 shares of the software maker’s stock worth $1,056,000 after purchasing an additional 23,304 shares during the period. 40.35% of the stock is owned by institutional investors and hedge funds.

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About Workiva

Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.

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