Workiva Inc. (WK) Downgraded by Zacks Investment Research
Workiva Inc. (NYSE:WK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
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 recently commented on the company. Raymond James Financial Inc. lifted their price target on Workiva from $16.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, September 8th. Stifel Nicolaus lifted their price target on Workiva from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Robert W. Baird reiterated an “outperform” rating and set a $18.00 price target on shares of Workiva in a report on Thursday, August 18th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Workiva in a report on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.40.
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Workiva (NYSE:WK) traded up 0.6958% during midday trading on Tuesday, hitting $16.8162. The stock had a trading volume of 1,096 shares. The company’s market cap is $690.44 million. The company’s 50 day moving average is $17.90 and its 200 day moving average is $14.67. Workiva has a 1-year low of $10.92 and a 1-year high of $19.04.
Workiva (NYSE:WK) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.14. The company earned $43 million during the quarter, compared to analysts’ expectations of $42.07 million. Workiva had a negative return on equity of 233.03% and a negative net margin of 29.62%. Workiva’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) EPS. On average, equities analysts anticipate that Workiva will post ($0.98) earnings per share for the current fiscal year.
In other Workiva news, major shareholder Jerome M. Behar sold 62,783 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $17.87, for a total transaction of $1,121,932.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph H. Howell sold 24,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 15,581 shares of the company’s stock, valued at $274,381.41. The disclosure for this sale can be found here. Company insiders own 33.40% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its stake in shares of Workiva by 87.8% in the second quarter. BlackRock Advisors LLC now owns 9,828 shares of the company’s stock valued at $134,000 after buying an additional 4,595 shares during the period. Royal Bank of Canada increased its stake in Workiva by 98.4% in the second quarter. Royal Bank of Canada now owns 12,372 shares of the company’s stock worth $169,000 after buying an additional 6,135 shares during the last quarter. American International Group Inc. increased its stake in Workiva by 101.2% in the second quarter. American International Group Inc. now owns 12,647 shares of the company’s stock worth $173,000 after buying an additional 6,360 shares during the last quarter. Renaissance Technologies LLC increased its stake in Workiva by 33.3% in the first quarter. Renaissance Technologies LLC now owns 15,600 shares of the company’s stock worth $182,000 after buying an additional 3,900 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Workiva by 205.1% in the second quarter. Nationwide Fund Advisors now owns 14,188 shares of the company’s stock worth $194,000 after buying an additional 9,537 shares during the last quarter. Hedge funds and other institutional investors own 32.57% of the company’s stock.
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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