Workiva (WK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Workiva (NYSE:WK) from a sell rating to a hold rating in a research note issued to investors on Saturday.

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. “

A number of other research analysts have also issued reports on WK. SunTrust Banks reiterated a buy rating and issued a $24.00 target price (up from $22.00) on shares of Workiva in a research note on Wednesday, September 20th. Robert W. Baird raised their target price on shares of Workiva from $19.00 to $20.00 and gave the company a neutral rating in a research note on Thursday, September 21st. Morgan Stanley raised their price target on shares of Workiva from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Monday, October 23rd. Northland Securities restated a buy rating and issued a $23.00 price target on shares of Workiva in a research report on Sunday, October 29th. Finally, Stifel Nicolaus raised their price target on shares of Workiva from $23.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $22.14.

Workiva (NYSE WK) opened at $21.80 on Friday. Workiva has a 12 month low of $12.15 and a 12 month high of $23.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of -1.29. The stock has a market cap of $911.81, a price-to-earnings ratio of -23.96 and a beta of 0.63.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.17. The firm had revenue of $52.10 million during the quarter, compared to analyst estimates of $50.64 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. equities analysts anticipate that Workiva will post -1.1 earnings per share for the current fiscal year.

In other Workiva news, major shareholder Jerome M. Behar sold 2,442 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $23.40, for a total value of $57,142.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 33.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Old Mutual Global Investors UK Ltd. bought a new position in shares of Workiva during the 3rd quarter worth about $106,000. ETF Managers Group LLC bought a new position in shares of Workiva during the 2nd quarter worth about $118,000. Legal & General Group Plc lifted its holdings 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 worth $134,000 after acquiring an additional 597 shares during the period. Voya Investment Management LLC bought a new position in shares of Workiva during the 2nd quarter worth about $192,000. Finally, GSA Capital Partners LLP bought a new position in shares of Workiva during the 3rd quarter worth about $224,000. Institutional investors own 35.15% of the company’s stock.

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About Workiva

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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