WK has been the topic of several other reports. Credit Suisse Group raised their price objective on Workiva from $16.00 to $19.00 and gave the stock a neutral rating in a report on Monday, May 15th. Stifel Nicolaus raised their price objective on Workiva from $21.00 to $23.00 and gave the stock a buy rating in a report on Friday, August 18th. BidaskClub downgraded Workiva from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Morgan Stanley restated an equal weight rating and set a $18.00 price objective (up from $16.00) on shares of Workiva in a report on Tuesday, July 25th. Finally, SunTrust Banks, Inc. began coverage on Workiva in a report on Monday, June 26th. They set a buy rating and a $22.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $19.57.
Shares of Workiva (NYSE WK) opened at 19.80 on Friday. Workiva has a 52 week low of $12.15 and a 52 week high of $20.95. The stock’s market capitalization is $828.15 million. The company has a 50-day moving average price of $19.71 and a 200 day moving average price of $17.94.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. The firm had revenue of $49.40 million during the quarter, compared to analyst estimates of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. Workiva’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS. Equities 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 Workiva stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $19.10, for a total value of $263,656.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph H. Howell sold 24,000 shares of Workiva stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $18.61, for a total value of $446,640.00. Following the completion of the transaction, the vice president now owns 22,048 shares in the company, valued at $410,313.28. The disclosure for this sale can be found here. Insiders have sold a total of 469,990 shares of company stock worth $9,431,516 over the last 90 days. 33.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Oberndorf William E increased its holdings in shares of Workiva by 38.8% in the 1st quarter. Oberndorf William E now owns 2,369,384 shares of the software maker’s stock valued at $37,081,000 after acquiring an additional 662,408 shares during the period. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 147,450 shares during the period. Frontier Capital Management Co. LLC increased its holdings in shares of 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 acquiring an additional 123,887 shares during the period. State Street Corp increased its holdings in shares of 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 acquiring an additional 40,657 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of 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 acquiring an additional 29,936 shares during the period. Institutional investors and hedge funds 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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