Workiva (WK) Lowered to “Hold” at Zacks Investment Research

Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

Several other analysts have also recently issued reports on the company. SunTrust Banks upped their price objective on Workiva to $39.00 and gave the company a “positive” rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call. Morgan Stanley lowered Workiva from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $20.00 to $28.00 in a report on Tuesday, September 18th. Northland Securities upped their target price on Workiva from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Stifel Nicolaus upped their target price on Workiva from $35.00 to $42.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Robert W. Baird raised Workiva from a “neutral” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Workiva presently has a consensus rating of “Buy” and an average price target of $36.50.

NYSE WK traded up $0.59 on Friday, hitting $34.43. 147,856 shares of the stock traded hands, compared to its average volume of 218,337. Workiva has a twelve month low of $20.50 and a twelve month high of $40.65. The stock has a market capitalization of $1.71 billion, a P/E ratio of -32.18 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of -1.01.

Workiva (NYSE:WK) last announced its quarterly earnings data on Tuesday, August 7th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.12. The firm had revenue of $59.13 million for the quarter, compared to analyst estimates of $56.08 million. On average, analysts anticipate that Workiva will post -1.15 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in Workiva in the 2nd quarter worth approximately $311,000. Engineers Gate Manager LP acquired a new stake in Workiva in the second quarter worth approximately $411,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Workiva in the second quarter worth approximately $1,645,000. Acadian Asset Management LLC acquired a new stake in Workiva in the second quarter worth approximately $541,000. Finally, SG Americas Securities LLC acquired a new stake in Workiva in the second quarter worth approximately $127,000. 40.73% of the stock is owned by institutional investors and hedge funds.

Workiva Company Profile

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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