Workiva (NYSE:WK) Rating Lowered to Sell at Zacks Investment Research

Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

Separately, Stifel Nicolaus dropped their target price on Workiva from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, December 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $131.17.

NYSE:WK opened at $116.82 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $134.50 and its two-hundred day moving average is $136.43. Workiva has a 52 week low of $80.00 and a 52 week high of $173.24. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -185.43 and a beta of 1.41.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 3rd. The software maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.27. Workiva had a negative return on equity of 31.90% and a negative net margin of 7.55%. The company had revenue of $112.69 million for the quarter, compared to analysts’ expectations of $108.52 million. On average, sell-side analysts expect that Workiva will post -0.6 EPS for the current fiscal year.

In other Workiva news, CFO Jill Klindt sold 26,000 shares of the business’s stock in a transaction on Tuesday, November 9th. The shares were sold at an average price of $161.00, for a total value of $4,186,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Martin J. Vanderploeg sold 17,500 shares of the business’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $142.37, for a total transaction of $2,491,475.00. The disclosure for this sale can be found here. Insiders have sold a total of 998,500 shares of company stock worth $150,840,225 in the last 90 days. Company insiders own 12.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WK. FMR LLC bought a new stake in shares of Workiva in the 1st quarter worth about $2,535,000. Advisor Group Holdings Inc. grew its position in shares of Workiva by 18.4% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,354 shares of the software maker’s stock valued at $483,000 after buying an additional 676 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Workiva by 4.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,541 shares of the software maker’s stock valued at $1,730,000 after buying an additional 667 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Workiva during the 2nd quarter valued at about $228,000. Finally, abrdn plc grew its position in shares of Workiva by 11.6% during the 2nd quarter. abrdn plc now owns 576,426 shares of the software maker’s stock valued at $64,214,000 after buying an additional 60,116 shares during the last quarter. 87.41% of the stock is owned by institutional investors.

Workiva Company Profile

Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Its platform, Wdesk, offers controlled collaboration, data linking, data integrations, granular permissions, process management and a full audit trail.

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