Workiva (NYSE:WK)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks in a research note issued on Friday. They presently have a $28.00 target price on the software maker’s stock. SunTrust Banks’ target price suggests a potential upside of 26.13% from the company’s current price.
A number of other analysts have also commented on the company. Northland Securities reissued a “buy” rating and set a $27.00 price objective on shares of Workiva in a report on Friday. Stifel Nicolaus boosted their price objective on Workiva from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday. Raymond James Financial lowered Workiva from an “outperform” rating to a “market perform” rating in a report on Friday. Citigroup lowered Workiva to a “market perform” rating in a report on Friday. Finally, ValuEngine raised Workiva from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.86.
Shares of Workiva (WK) traded down $3.85 on Friday, reaching $22.20. The company’s stock had a trading volume of 2,008,114 shares, compared to its average volume of 189,862. The company has a debt-to-equity ratio of -1.29, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $1,092.22, a price-to-earnings ratio of -20.75 and a beta of 0.63. Workiva has a 1 year low of $13.30 and a 1 year high of $26.75.
Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. The company had revenue of $54.51 million for the quarter, compared to the consensus estimate of $53.28 million. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. analysts expect that Workiva will post -0.99 earnings per share for the current year.
In other news, major shareholder Jerome M. Behar sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $22.95, for a total value of $1,147,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jerome M. Behar sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $25.72, for a total value of $797,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,923 shares of company stock valued at $6,004,525. 33.29% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Workiva by 3.0% in the fourth quarter. BlackRock Inc. now owns 1,484,847 shares of the software maker’s stock valued at $31,776,000 after acquiring an additional 43,388 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Workiva by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock valued at $25,459,000 after acquiring an additional 147,450 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Workiva by 73.6% in the fourth quarter. Renaissance Technologies LLC now owns 758,300 shares of the software maker’s stock valued at $16,228,000 after acquiring an additional 321,394 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Workiva by 16.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 470,151 shares of the software maker’s stock valued at $10,061,000 after acquiring an additional 66,950 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Workiva by 12.3% in the second quarter. State Street Corp now owns 371,323 shares of the software maker’s stock valued at $7,074,000 after acquiring an additional 40,657 shares in the last quarter. 38.52% of the stock is owned by institutional investors.
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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.
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