Workiva Inc. (NYSE:WK) Receives Consensus Rating of “Hold” from Analysts
Workiva Inc. (NYSE:WK) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.17.
Several equities research analysts have recently issued reports on the stock. SunTrust Banks, Inc. assumed coverage on shares of Workiva in a research report on Monday, June 26th. They set a “buy” rating and a $22.00 price objective for the company. 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 Monday, May 15th.
Shares of Workiva (WK) opened at 18.90 on Friday. The firm’s market cap is $782.03 million. Workiva has a 52 week low of $12.15 and a 52 week high of $20.15. The firm’s 50 day moving average is $18.46 and its 200-day moving average is $15.60.
Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.11. Workiva had a negative net margin of 20.31% and a negative return on equity of 13,251.94%. The company had revenue of $51.90 million during the quarter, compared to the consensus estimate of $50.67 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts predict that Workiva will post ($0.66) EPS for the current year.
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In related news, major shareholder Jerome M. Behar sold 16,500 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $18.12, for a total transaction of $298,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jerome M. Behar sold 53,500 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $18.13, for a total transaction of $969,955.00. The disclosure for this sale can be found here. Insiders have sold 240,445 shares of company stock valued at $4,430,643 in the last 90 days. 33.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock valued at $4,524,000 after buying an additional 13,881 shares during the last quarter. Federated Investors Inc. PA boosted its position in shares of Workiva by 89.8% in the fourth quarter. Federated Investors Inc. PA now owns 9,348 shares of the software maker’s stock valued at $128,000 after buying an additional 4,422 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Workiva by 64.0% in the fourth quarter. Renaissance Technologies LLC now owns 61,000 shares of the software maker’s stock valued at $833,000 after buying an additional 23,800 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Workiva by 112.7% in the fourth quarter. Two Sigma Investments LP now owns 116,489 shares of the software maker’s stock valued at $1,590,000 after buying an additional 61,720 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Workiva by 27.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,703 shares of the software maker’s stock valued at $556,000 after buying an additional 8,810 shares during the last quarter. Institutional investors and hedge funds own 40.75% 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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