Workiva Inc. (WK) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Workiva Inc. (NYSE:WK) from a hold rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $17.00 target price on the stock.
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. “
A number of other equities analysts have also issued reports on the company. Credit Suisse Group AG lowered Workiva from an outperform rating to a neutral rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Thursday, November 10th. Raymond James Financial Inc. raised their price objective 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 raised their price objective on Workiva from $20.00 to $22.00 and gave the stock a buy rating in a research note on Thursday, September 8th. Finally, Robert W. Baird reissued an outperform rating and set a $18.00 price objective on shares of Workiva in a research note on Thursday, August 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $18.67.
Workiva (NYSE:WK) remained flat at $15.00 during trading on Wednesday. 38,669 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $16.58 and a 200-day moving average price of $15.24. The company’s market cap is $618.23 million. Workiva has a 12-month low of $10.91 and a 12-month high of $19.04.
Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.11. The firm earned $44.71 million during the quarter, compared to analyst estimates of $44.87 million. Workiva had a negative return on equity of 363.07% and a negative net margin of 27.16%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted ($0.29) EPS. Equities research analysts predict that Workiva will post ($0.84) EPS for the current year.
In related news, VP Joseph H. Howell sold 24,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $17.61, for a total transaction of $422,640.00. Following the completion of the sale, the vice president now directly owns 15,581 shares in the company, valued at $274,381.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 90,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $18.03, for a total value of $1,622,700.00. The disclosure for this sale can be found here. Corporate insiders own 33.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Workiva by 6.4% in the second quarter. Vanguard Group Inc. now owns 895,140 shares of the company’s stock valued at $12,227,000 after buying an additional 54,195 shares in the last quarter. BlackRock Fund Advisors raised its position in Workiva by 6.4% in the third quarter. BlackRock Fund Advisors now owns 608,776 shares of the company’s stock valued at $11,037,000 after buying an additional 36,612 shares during the period. FMR LLC raised its position in 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 during the period. BlackRock Institutional Trust Company N.A. raised its position in Workiva by 25.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 311,933 shares of the company’s stock valued at $5,655,000 after buying an additional 62,844 shares during the period. Finally, State Street Corp raised its position in 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 during the period. Institutional investors and hedge funds own 32.82% of the company’s stock.
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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