Workiva Inc. (WK) Given Consensus Recommendation of “Hold” by Analysts
Workiva Inc. (NYSE:WK) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.43.
Several research firms have recently issued reports on WK. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 price objective on shares of Workiva in a research report on Friday, August 4th. Morgan Stanley reissued an “equal weight” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Credit Suisse Group increased their price objective on shares of Workiva from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, May 5th. BidaskClub lowered shares of Workiva from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Northland Securities reissued a “buy” rating and issued a $18.00 price objective on shares of Workiva in a research report on Friday, July 28th.
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Workiva (NYSE:WK) traded up 1.00% during mid-day trading on Friday, reaching $20.20. 160,509 shares of the company traded hands. The stock has a 50-day moving average of $19.79 and a 200 day moving average of $17.60. The stock’s market capitalization is $844.89 million. Workiva has a 52-week low of $12.15 and a 52-week high of $20.95.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The firm had revenue of $49.40 million during the quarter, compared to analyst estimates of $48.37 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. Workiva’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts expect that Workiva will post ($0.63) earnings per share for the current year.
In related news, major shareholder Jerome M. Behar sold 13,804 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $19.10, for a total transaction of $263,656.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph H. Howell sold 24,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $18.61, for a total transaction of $446,640.00. Following the sale, the vice president now directly owns 22,048 shares of the company’s stock, valued at $410,313.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,730 shares of company stock valued at $7,037,288. Company insiders own 33.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC purchased a new stake in Workiva during the second quarter worth $118,000. Legal & General Group Plc raised its stake in Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after buying an additional 597 shares during the last quarter. Bank of Montreal Can purchased a new stake in Workiva during the second quarter worth $162,000. Voya Investment Management LLC purchased a new stake in Workiva during the second quarter worth $192,000. Finally, American International Group Inc. raised its stake in Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after buying an additional 888 shares during the last quarter. 43.27% of the stock is owned by institutional investors and hedge funds.
Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s 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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