Workiva Inc. (WK) Rating Reiterated by SunTrust Banks, Inc.
Workiva Inc. (NYSE:WK)‘s stock had its “buy” rating reaffirmed by SunTrust Banks, Inc. in a report released on Wednesday. They currently have a $24.00 price target on the software maker’s stock, up from their prior price target of $22.00. SunTrust Banks, Inc.’s target price suggests a potential upside of 20.30% from the stock’s current price.
WK has been the subject of a number of other research reports. Northland Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Workiva in a research report on Friday, July 28th. Stifel Nicolaus lifted their price objective on Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded Workiva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Workiva presently has an average rating of “Hold” and a consensus price target of $19.86.
Shares of Workiva (NYSE:WK) traded up 0.50% during trading on Wednesday, hitting $19.95. The stock had a trading volume of 194,910 shares. The stock’s 50 day moving average is $19.67 and its 200-day moving average is $18.16. The company’s market cap is $834.43 million. Workiva has a 12-month low of $12.15 and a 12-month high of $20.95.
Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. The business had revenue of $49.40 million during the quarter, compared to the consensus estimate of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($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 other Workiva news, VP Joseph H. Howell sold 24,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $18.61, for a total transaction of $446,640.00. Following the completion of the sale, the vice president now owns 22,048 shares of the company’s stock, valued at $410,313.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 115,195 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $20.00, for a total value of $2,303,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 456,186 shares of company stock valued at $9,167,860. 33.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. ETF Managers Group LLC acquired a new position in shares of Workiva during the second quarter worth about $118,000. Legal & General Group Plc lifted its stake in shares of Workiva by 9.3% during the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after purchasing an additional 597 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Workiva during the second quarter worth about $162,000. Voya Investment Management LLC acquired a new position in shares of Workiva during the second quarter worth about $192,000. Finally, American International Group Inc. lifted its stake in shares of Workiva by 7.0% during the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after purchasing an additional 888 shares in the last quarter. Institutional investors own 43.27% of the company’s stock.
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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