Workiva Inc. (WK) Given Consensus Recommendation of “Buy” by Brokerages
Workiva Inc. (NYSE:WK) has been given a consensus rating of “Buy” by the six research firms that are covering the company. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.40.
WK has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Workiva from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Zacks Investment Research raised shares of Workiva from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, August 11th. Raymond James Financial Inc. raised their price target on shares of Workiva from $16.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, September 8th. Robert W. Baird reissued an “outperform” rating and issued a $18.00 price target on shares of Workiva in a report on Thursday, August 18th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Workiva in a report on Wednesday, June 29th.
In other Workiva news, major shareholder Jerome M. Behar sold 90,000 shares of Workiva stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $18.03, for a total transaction of $1,622,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph H. Howell sold 24,000 shares of Workiva stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $17.61, for a total transaction of $422,640.00. Following the sale, the vice president now directly owns 15,581 shares of the company’s stock, valued at approximately $274,381.41. The disclosure for this sale can be found here. Company insiders own 33.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Investment Management LLC raised its stake in Workiva by 223.8% in the second quarter. BlackRock Investment Management LLC now owns 84,273 shares of the company’s stock worth $1,151,000 after buying an additional 58,243 shares in the last quarter. BlackRock Advisors LLC raised its stake in Workiva by 87.8% in the second quarter. BlackRock Advisors LLC now owns 9,828 shares of the company’s stock worth $134,000 after buying an additional 4,595 shares in the last quarter. Vanguard Group Inc. raised its stake in Workiva by 6.4% in the second quarter. Vanguard Group Inc. now owns 895,140 shares of the company’s stock worth $12,227,000 after buying an additional 54,195 shares in the last quarter. Nationwide Fund Advisors raised its stake in Workiva by 205.1% in the second quarter. Nationwide Fund Advisors now owns 14,188 shares of the company’s stock worth $194,000 after buying an additional 9,537 shares in the last quarter. Finally, Institutional & Family Asset Management LLC acquired a new stake in Workiva during the second quarter worth approximately $986,000. 32.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Workiva (NYSE:WK) traded down 2.16% during mid-day trading on Thursday, hitting $16.77. The company had a trading volume of 34,571 shares. The firm has a 50-day moving average price of $17.98 and a 200 day moving average price of $14.54. Workiva has a 12 month low of $10.91 and a 12 month high of $19.04. The firm’s market capitalization is $688.54 million.
Workiva (NYSE:WK) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.14. The company earned $43 million during the quarter, compared to analyst estimates of $42.07 million. Workiva had a negative net margin of 29.62% and a negative return on equity of 233.03%. The company’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) earnings per share. On average, equities research analysts forecast that Workiva will post ($0.98) earnings per share for the current fiscal year.
Workiva Company Profile
Workiva Inc develops Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. The Wdesk 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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