Workiva Inc. (WK) PT Set at $23.00 by Northland Securities
Workiva Inc. (NYSE:WK) received a $23.00 price objective from stock analysts at Northland Securities in a research report issued on Sunday. The brokerage presently has a “buy” rating on the software maker’s stock. Northland Securities’ price objective would indicate a potential upside of 15.58% from the company’s current price.
A number of other analysts have also commented on WK. Credit Suisse Group boosted their price target on Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, May 15th. SunTrust Banks, Inc. started coverage on Workiva in a report on Monday, June 26th. They issued a “buy” rating and a $22.00 price target on the stock. BidaskClub lowered Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and set a $18.00 target price (up previously from $16.00) on shares of Workiva in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $21.00 target price on shares of Workiva in a report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Workiva presently has a consensus rating of “Hold” and a consensus price target of $19.57.
Workiva (NYSE WK) opened at 19.90 on Friday. The stock’s 50 day moving average price is $19.70 and its 200-day moving average price is $17.93. Workiva has a one year low of $12.15 and a one year high of $20.95. The firm’s market cap is $832.34 million.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $49.40 million for the quarter, compared to analyst estimates of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. Analysts forecast that Workiva will post ($0.63) earnings per share for the current year.
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In related news, major shareholder Jerome M. Behar sold 57,186 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.00, for a total transaction of $1,143,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 13,804 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $19.10, for a total value of $263,656.40. The disclosure for this sale can be found here. Insiders have sold 469,990 shares of company stock worth $9,431,516 in the last quarter. 33.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Workiva during the second quarter worth about $289,000. California State Teachers Retirement System raised its holdings in Workiva by 1.6% during the second quarter. California State Teachers Retirement System now owns 43,968 shares of the software maker’s stock worth $838,000 after acquiring an additional 700 shares in the last quarter. State Street Corp raised its holdings in Workiva by 12.3% during the second quarter. State Street Corp now owns 371,323 shares of the software maker’s stock worth $7,074,000 after acquiring an additional 40,657 shares in the last quarter. ETF Managers Group LLC bought a new stake in Workiva during the second quarter worth about $118,000. Finally, PDT Partners LLC bought a new stake in Workiva during the second quarter worth about $911,000. Institutional investors and hedge funds own 43.27% of the company’s stock.
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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