Workiva Inc. (NYSE:WK) Receives an Average “Buy” Recommendation from Brokerages
Workiva Inc. (NYSE:WK – Get Rating) received a consensus “Buy” recommendation from the eight research firms that currently cover the stock, Marketbeat Ratings reports. One equity research analyst rated the stock with a sell recommendation, another issued a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among analysts who have reported on the stock in the past year is $136.40.
A number of equity research analysts have commented on WK shares. William Blair reissued an “outperforming” rating on Workiva stock in a Wednesday, Feb. 23 report. StockNews.com began covering Workiva shares in a report on Thursday. They have set a “holding” rating on the stock. Zacks Investment Research downgraded Workiva shares from a “hold” rating to a “sell” rating in a Tuesday, March 8 report. Robert W. Baird cut his price target on Workiva stock from $190.00 to $150.00 in a Wednesday, Feb. 23 report. Finally, Stifel Nicolaus reduced his price target on Workiva shares from $150.00 to $120.00 and placed a “buy” rating on the stock in a Wednesday, February 23 research note.
In a similar vein, Executive Vice President Mithun Banarjee sold 7,042 shares of the company in a trade dated Wednesday, March 9. The stock was sold at an average price of $101.73, for a total value of $716,382.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Michael D. Hawkins sold 3,433 shares of the company in a trade dated Wednesday, February 9. The shares were sold at an average price of $120.00, for a total value of $411,960.00. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 11,975 shares of the company valued at $1,271,908. Insiders of the company hold 12.25% of the shares of the company.
A number of hedge funds and other institutional investors have recently changed their holdings in the company. FMR LLC purchased a new equity stake in Workiva during the first quarter for a value of approximately $2,535,000. Parametric Portfolio Associates LLC increased its holdings in Workiva by 16.5% in the second quarter. Parametric Portfolio Associates LLC now owns 56,524 shares of the software maker valued at $6,293,000 after acquiring 8,020 additional shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Workiva by 66.8% in the third quarter. Frontier Capital Management Co. LLC now owns 104,354 shares of the software maker valued at $14,710,000 after acquiring an additional 41,802 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Workiva in the third quarter worth approximately $789,000. Finally, Conestoga Capital Advisors LLC increased its stake in Workiva by 1.5% in the third quarter. Conestoga Capital Advisors LLC now owns 738,688 shares of the software maker valued at $104,125,000 after acquiring 11,218 additional shares in the last quarter. 85.94% of the shares are held by hedge funds and other institutional investors.
WK opened at $118.00 on Friday. The company’s 50-day simple moving average is $108.53 and its 200-day simple moving average is $127.76. The company has a debt ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.02. Workiva has a 12-month low of $80.00 and a 12-month high of $173.24. The company has a market capitalization of $6.13 billion, a price-earnings ratio of -157.33 and a beta of 1.45.
Workiva (NYSE:WK – Get Rating) last released its quarterly earnings data on Monday, February 21. The software maker reported EPS of $0.03 for the quarter, beating analyst consensus estimates of $0.06 ($0.09). Workiva had a negative net margin of 8.51% and a negative return on equity of 39.05%. The company posted revenue of $120.78 million for the quarter, versus analyst estimates of $117.10 million. In the same quarter of the previous year, the company achieved EPS of ($0.11). The company’s revenue increased 28.7% year over year. As a group, sell-side analysts expect Workiva to post -1.92 EPS for the current fiscal year.
Workiva Company Profile (Get an assessment)
Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers the Workiva platform which offers controlled collaboration, data linking, data integrations, granular permissions, process management and comprehensive audit trail services; and provides tools that enable customers to connect data from enterprise resource planning, risk governance and compliance, human capital management and customer relationship management systems, and other cloud applications and on third-party sites.
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