Workiva Inc. (WK) Receives Average Rating of “Buy” from Analysts
Shares of Workiva Inc. (NYSE:WK) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.67.
A number of brokerages have commented on WK. Zacks Investment Research upgraded shares of Workiva from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price on shares of Workiva in a report on Thursday, August 18th. Credit Suisse Group AG cut shares of Workiva from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $16.00 in a report on Thursday, November 10th. Stifel Nicolaus raised their target price on shares of Workiva from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Raymond James Financial Inc. raised their target price on shares of Workiva from $16.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, September 8th.
Shares of Workiva (NYSE:WK) remained flat at $15.00 during mid-day trading on Thursday. 90,001 shares of the company’s stock were exchanged. Workiva has a one year low of $10.91 and a one year high of $19.04. The stock’s market cap is $618.23 million. The firm’s 50 day moving average is $16.58 and its 200-day moving average is $15.24.
Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.11. Workiva had a negative net margin of 27.16% and a negative return on equity of 363.07%. The business had revenue of $44.71 million for the quarter, compared to analysts’ expectations of $44.87 million. During the same period last year, the business earned ($0.29) earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities research analysts predict that Workiva will post ($0.84) earnings per share for the current fiscal year.
In other Workiva news, major shareholder Jerome M. Behar sold 90,000 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $18.03, for a total transaction of $1,622,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jerome M. Behar sold 62,783 shares of the firm’s stock in a transaction 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 corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Workiva by 201.0% in the second quarter. BlackRock Fund Advisors now owns 572,164 shares of the company’s stock valued at $7,816,000 after buying an additional 382,102 shares in the last quarter. FMR LLC raised its position in shares of Workiva by 216.5% in the second quarter. FMR LLC now owns 530,457 shares of the company’s stock valued at $7,246,000 after buying an additional 362,857 shares in the last quarter. State Street Corp raised its position in shares of Workiva by 271.9% in the second quarter. State Street Corp now owns 290,973 shares of the company’s stock valued at $3,976,000 after buying an additional 212,743 shares in the last quarter. Trutina Financial LLC purchased a new position in shares of Workiva during the second quarter valued at approximately $1,887,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Workiva by 122.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 249,089 shares of the company’s stock valued at $3,403,000 after buying an additional 137,125 shares in the last quarter. 32.82% of the stock is owned by institutional investors and hedge funds.
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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