Workiva Inc. (WK) Rating Reiterated by Stifel Nicolaus
Workiva Inc. (NYSE:WK)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a research note issued to investors on Friday. They currently have a $23.00 price objective on the software maker’s stock, up from their prior price objective of $21.00. Stifel Nicolaus’ price objective suggests a potential upside of 15.58% from the company’s previous close.
A number of other analysts have also commented on WK. Credit Suisse Group lifted their target price on shares of Workiva from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, May 5th. SunTrust Banks, Inc. initiated coverage on shares of Workiva in a report on Monday, June 26th. They set a “buy” rating and a $22.00 target price for the company. BidaskClub lowered shares of Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley reaffirmed 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, Northland Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Workiva in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Workiva has an average rating of “Hold” and an average price target of $19.13.
Shares of Workiva (NYSE:WK) traded up 1.79% during trading on Friday, reaching $19.90. The company’s stock had a trading volume of 97,564 shares. The company’s 50-day moving average is $19.63 and its 200-day moving average is $17.10. Workiva has a 12 month low of $12.15 and a 12 month high of $20.95. The company’s market capitalization is $832.34 million.
Workiva (NYSE:WK) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned ($0.20) EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts forecast that Workiva will post ($0.63) EPS for the current fiscal year.
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In other news, major shareholder Jerome M. Behar sold 13,804 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $19.10, for a total value of $263,656.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jerome M. Behar sold 76,520 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $18.27, for a total transaction of $1,398,020.40. The disclosure for this sale can be found here. Insiders sold a total of 383,863 shares of company stock valued at $7,507,568 in the last three months. 33.40% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in WK. ETF Managers Group LLC purchased a new position in shares of Workiva during the second quarter valued at about $118,000. Legal & General Group Plc raised its position in shares of Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after buying an additional 597 shares during the period. Bank of Montreal Can purchased a new position in shares of Workiva during the second quarter valued at about $162,000. Voya Investment Management LLC purchased a new position in shares of Workiva during the second quarter valued at about $192,000. Finally, American International Group Inc. raised its position in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock valued at $212,000 after buying an additional 888 shares during the period. 41.18% of the stock is owned by institutional investors.
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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