Workiva Inc. (WK) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Workiva Inc. (NYSE:WK) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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. “

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $21.00 price target on shares of Workiva in a research report on Friday, August 4th. Robert W. Baird raised their target price on shares of Workiva from $19.00 to $20.00 and gave the stock a neutral rating in a report on Thursday, September 21st. Morgan Stanley reissued an equal weight rating and issued a $18.00 target price (up previously from $16.00) on shares of Workiva in a report on Tuesday, July 25th. Credit Suisse Group raised their target price on shares of Workiva from $19.00 to $21.00 and gave the stock a neutral rating in a report on Wednesday, November 8th. Finally, SunTrust Banks, Inc. reissued a buy rating and issued a $24.00 target price (up previously from $22.00) on shares of Workiva in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $22.14.

Shares of Workiva (NYSE:WK) traded up $0.20 during trading on Tuesday, hitting $22.25. The stock had a trading volume of 109,000 shares, compared to its average volume of 139,948. 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 has a 12 month low of $12.15 and a 12 month high of $23.70.

Workiva (NYSE:WK) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.17. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $50.64 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.83%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. analysts predict that Workiva will post -1.1 EPS for the current fiscal year.

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In other Workiva news, major shareholder Jerome M. Behar sold 115,195 shares of Workiva stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $20.00, for a total value of $2,303,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Jerome M. Behar sold 2,442 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total transaction of $57,142.80. The disclosure for this sale can be found here. Insiders have sold 324,922 shares of company stock worth $6,631,601 in the last quarter. Company insiders own 33.29% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Old Mutual Global Investors UK Ltd. acquired a new position in Workiva in the 3rd quarter worth approximately $106,000. ETF Managers Group LLC acquired a new stake in shares of Workiva during the 2nd quarter valued at $118,000. Legal & General Group Plc boosted its stake in shares of Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after buying an additional 597 shares during the period. Bank of Montreal Can acquired a new stake in shares of Workiva during the 2nd quarter valued at $162,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Workiva during the 2nd quarter valued at $192,000. 32.20% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Workiva (NYSE:WK)

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