Workiva Inc. (WK) Downgraded to Sell at Zacks Investment Research
Workiva Inc. (NYSE:WK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
A number of other analysts have also recently commented on WK. Stifel Nicolaus boosted their price objective on Workiva from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Northland Securities set a $23.00 price target on Workiva and gave the stock a “buy” rating in a research report on Sunday, September 10th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $24.00 price target on shares of Workiva in a research report on Friday, November 3rd. BidaskClub cut Workiva from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Robert W. Baird boosted their price target on Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $22.14.
Workiva (NYSE:WK) traded down $0.30 during trading on Tuesday, hitting $22.05. The stock had a trading volume of 177,000 shares, compared to its average volume of 140,089. Workiva has a 1-year low of $12.15 and a 1-year high of $23.70. The company has a debt-to-equity ratio of -1.29, a current ratio of 0.90 and a quick ratio of 0.90.
Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.17. The business had revenue of $52.10 million during the quarter, compared to analysts’ expectations of $50.64 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.83%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) earnings per share. equities analysts predict that Workiva will post -1.09 EPS for the current fiscal year.
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In related news, major shareholder Jerome M. Behar sold 115,195 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $20.00, for a total transaction of $2,303,900.00. The sale 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 46,387 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $20.00, for a total value of $927,740.00. The disclosure for this sale can be found here. Insiders have sold 324,922 shares of company stock valued at $6,631,601 over the last quarter. 33.29% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Workiva by 12.4% in the 2nd 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 in the last quarter. Highwater Wealth Management LLC grew its holdings in Workiva by 3.1% in the 3rd quarter. Highwater Wealth Management LLC now owns 773,367 shares of the software maker’s stock valued at $16,125,000 after buying an additional 23,367 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in Workiva by 34.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock valued at $9,272,000 after buying an additional 123,887 shares in the last quarter. State Street Corp grew its holdings in Workiva by 12.3% in the 2nd quarter. State Street Corp now owns 371,323 shares of the software maker’s stock valued at $7,074,000 after buying an additional 40,657 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Workiva by 12.0% in the 2nd quarter. Northern Trust Corp now owns 279,409 shares of the software maker’s stock valued at $5,323,000 after buying an additional 29,936 shares in the last quarter. Institutional investors own 32.20% 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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