Workiva (NYSE:WK) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Workiva (NYSE:WK) from a strong-buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently weighed in on WK. Citigroup reaffirmed a “buy” rating on shares of Workiva in a research note on Thursday, August 6th. BTIG Research set a $85.00 target price on shares of Workiva in a report on Wednesday, September 16th. UBS Group set a $70.00 price target on Workiva in a research report on Wednesday, August 5th. Weiss Ratings downgraded Workiva from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, November 3rd. Finally, Stifel Nicolaus set a $95.00 price target on Workiva in a research note on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Workiva Trading Down 4.0%

Shares of WK stock opened at $69.86 on Friday. Workiva has a 12 month low of $43.34 and a 12 month high of $95.00. The stock has a market cap of $3.92 billion, a PE ratio of 62.38 and a beta of 0.46. The company’s fifty day moving average price is $75.65 and its 200-day moving average price is $63.02.

Workiva (NYSE:WK) last released its earnings results on Thursday, November 5th. The software maker reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). The business had revenue of $262.96 million during the quarter, compared to analysts’ expectations of $261.37 million. Workiva had a negative return on equity of 140.17% and a net margin of 4.87%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. On average, sell-side analysts forecast that Workiva will post 1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workiva news, EVP Brandon Ziegler sold 6,571 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $75.97, for a total transaction of $499,198.87. Following the completion of the sale, the executive vice president directly owned 126,216 shares in the company, valued at approximately $9,588,629.52. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WK. Versant Capital Management Inc increased its position in shares of Workiva by 202.3% during the second quarter. Versant Capital Management Inc now owns 532 shares of the software maker’s stock valued at $26,000 after acquiring an additional 356 shares in the last quarter. Optiver Holding B.V. raised its holdings in Workiva by 454.5% in the 1st quarter. Optiver Holding B.V. now owns 621 shares of the software maker’s stock worth $37,000 after acquiring an additional 509 shares during the last quarter. William Mack & Associates Inc. purchased a new position in Workiva in the 3rd quarter worth approximately $39,000. Harbor Investment Advisory LLC bought a new position in Workiva in the 2nd quarter valued at approximately $40,000. Finally, Covestor Ltd lifted its position in Workiva by 171.8% in the 3rd quarter. Covestor Ltd now owns 666 shares of the software maker’s stock valued at $44,000 after acquiring an additional 421 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

Workiva Inc provides cloud-based software for financial reporting, regulatory compliance, sustainability reporting, and governance, risk, and compliance activities. Its platform helps organizations connect data across business systems, manage reporting workflows, and prepare information for internal and external stakeholders.

The company’s offerings support processes such as preparing regulatory filings, financial statements, sustainability disclosures, and audit and risk documentation.