Workiva Inc. (WK) Rating Increased to Buy at Zacks Investment Research
Workiva Inc. (NYSE:WK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $24.00 price objective on the software maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.09% from the stock’s current price.
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. “
WK has been the topic of a number of other research reports. SunTrust Banks, Inc. restated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Workiva in a research note on Wednesday, September 20th. Northland Securities restated a “buy” rating and set a $18.00 price target on shares of Workiva in a research note on Friday, July 28th. Stifel Nicolaus raised their price target on Workiva from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Robert W. Baird raised their price target on Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, September 21st. Finally, BidaskClub downgraded Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.57.
Shares of Workiva (WK) opened at 22.00 on Thursday. The company’s 50 day moving average price is $20.09 and its 200-day moving average price is $18.57. The firm’s market cap is $920.17 million. Workiva has a 12-month low of $12.15 and a 12-month high of $22.15.
Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $49.40 million for 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 firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, equities research analysts anticipate that Workiva will post ($0.63) EPS for the current year.
In other Workiva news, major shareholder Jerome M. Behar sold 125,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $20.52, for a total transaction of $2,565,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jerome M. Behar sold 48,710 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $20.25, for a total value of $986,377.50. The disclosure for this sale can be found here. Insiders have sold a total of 488,898 shares of company stock valued at $9,884,314 over the last ninety days. 33.29% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of WK. Advisor Group Inc. lifted its position in Workiva by 62.9% during the 3rd quarter. Advisor Group Inc. now owns 5,700 shares of the software maker’s stock worth $103,000 after acquiring an additional 2,200 shares during the period. ETF Managers Group LLC acquired a new stake in Workiva during the 2nd quarter worth approximately $118,000. Federated Investors Inc. PA lifted its position in Workiva by 89.8% during the 4th quarter. Federated Investors Inc. PA now owns 9,348 shares of the software maker’s stock worth $128,000 after acquiring an additional 4,422 shares during the period. Legal & General Group Plc lifted its position in Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after acquiring an additional 597 shares during the period. Finally, Ellington Management Group LLC acquired a new stake in Workiva during the 4th quarter worth approximately $139,000. 32.18% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Workiva Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workiva Inc. and related companies with MarketBeat.com's FREE daily email newsletter.