Workiva Inc. (WK) Given Consensus Recommendation of “Buy” by Brokerages
Workiva Inc. (NYSE:WK) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.40.
A number of brokerages have recently weighed in on WK. Raymond James Financial Inc. boosted their price target on Workiva from $16.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, September 8th. Stifel Nicolaus lifted their target price on Workiva from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 target price on shares of Workiva in a report on Thursday, August 18th. Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, August 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Workiva in a report on Wednesday, June 29th.
In other Workiva news, VP Joseph H. Howell sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $17.61, for a total value of $422,640.00. Following the completion of the transaction, the vice president now directly owns 15,581 shares of the company’s stock, valued at $274,381.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 62,783 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $17.87, for a total value of $1,121,932.21. The disclosure for this sale can be found here. 33.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC increased its position in shares of Workiva by 87.8% in the second quarter. BlackRock Advisors LLC now owns 9,828 shares of the company’s stock worth $134,000 after buying an additional 4,595 shares during the last quarter. Royal Bank of Canada increased its position in shares of Workiva by 98.4% in the second quarter. Royal Bank of Canada now owns 12,372 shares of the company’s stock worth $169,000 after buying an additional 6,135 shares during the last quarter. American International Group Inc. increased its position in shares of Workiva by 101.2% in the second quarter. American International Group Inc. now owns 12,647 shares of the company’s stock worth $173,000 after buying an additional 6,360 shares during the last quarter. First PREMIER Bank increased its position in shares of Workiva by 23.2% in the third quarter. First PREMIER Bank now owns 14,177 shares of the company’s stock worth $257,000 after buying an additional 2,670 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Workiva by 205.1% in the second quarter. Nationwide Fund Advisors now owns 14,188 shares of the company’s stock worth $194,000 after buying an additional 9,537 shares during the last quarter. 32.56% of the stock is owned by institutional investors.
Workiva (NYSE:WK) traded down 2.16% during trading on Thursday, reaching $16.77. 34,571 shares of the company’s stock traded hands. The company has a 50 day moving average of $17.98 and a 200 day moving average of $14.54. The firm’s market cap is $688.54 million. Workiva has a one year low of $10.91 and a one year high of $19.04.
Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.14. Workiva had a negative return on equity of 233.03% and a negative net margin of 29.62%. The business had revenue of $43 million for the quarter, compared to analyst estimates of $42.07 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The company’s revenue was up 26.5% on a year-over-year basis. Equities research analysts predict that Workiva will post ($0.98) EPS for the current year.
Workiva Company Profile
Workiva Inc develops Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. The Wdesk 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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