Workiva Inc. (NYSE:WK)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks, Inc. in a report released on Friday. They currently have a $24.00 price target on the software maker’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 4.80% from the stock’s current price.

Several other research analysts have also recently weighed in on WK. BidaskClub cut shares of Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (up from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Workiva in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 target price on shares of Workiva in a research report on Friday, August 4th. Finally, Robert W. Baird upped their target price on shares of Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, September 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $21.71.

Shares of Workiva (NYSE:WK) opened at $22.90 on Friday. The company has a debt-to-equity ratio of -3.11, a quick ratio of 0.98 and a current ratio of 0.98.

Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.06. The firm had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. analysts forecast that Workiva will post -1.05 earnings per share for the current year.

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In related news, major shareholder Jerome M. Behar sold 36,579 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $20.00, for a total value of $731,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 1,839 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $20.00, for a total transaction of $36,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 360,898 shares of company stock valued at $7,342,819. Insiders own 33.29% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Highwater Wealth Management LLC purchased a new stake in shares of Workiva during the first quarter valued at approximately $11,738,000. Oberndorf William E grew its holdings in shares of Workiva by 38.8% during the first quarter. Oberndorf William E now owns 2,369,384 shares of the software maker’s stock valued at $37,081,000 after buying an additional 662,408 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Workiva during the first quarter valued at approximately $5,678,000. Spark Investment Management LLC grew its holdings in shares of Workiva by 234.8% during the second quarter. Spark Investment Management LLC now owns 235,700 shares of the software maker’s stock valued at $4,490,000 after buying an additional 165,300 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Workiva by 12.4% during the second quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock valued at $25,459,000 after buying an additional 147,450 shares during the last quarter. 32.35% of the stock is owned by institutional investors and hedge funds.

About Workiva

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.

Analyst Recommendations for Workiva (NYSE:WK)

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