Workiva Inc. (NYSE:WK) Expected to Announce Quarterly Sales of $108.52 Million

Equities research analysts expect Workiva Inc. (NYSE:WK) to report sales of $108.52 million for the current quarter, Zacks reports. Five analysts have issued estimates for Workiva’s earnings, with the highest sales estimate coming in at $109.00 million and the lowest estimate coming in at $108.00 million. Workiva posted sales of $88.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Workiva will report full year sales of $429.06 million for the current financial year, with estimates ranging from $419.00 million to $432.00 million. For the next year, analysts anticipate that the business will post sales of $502.34 million, with estimates ranging from $483.00 million to $517.92 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Workiva.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, August 3rd. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.31. Workiva had a negative return on equity of 36.88% and a negative net margin of 9.03%. The firm had revenue of $105.59 million for the quarter, compared to analysts’ expectations of $101.59 million.

Several research analysts recently commented on the company. Zacks Investment Research upgraded Workiva from a “sell” rating to a “hold” rating in a research report on Tuesday, August 10th. Truist lifted their price target on Workiva from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Truist Securities lifted their price target on Workiva from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Finally, William Blair restated a “buy” rating on shares of Workiva in a research report on Wednesday, August 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Workiva presently has a consensus rating of “Buy” and a consensus target price of $110.63.

In related news, Director Robert H. Herz sold 17,870 shares of the business’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $133.13, for a total value of $2,379,033.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brandon Ziegler sold 8,252 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $132.42, for a total transaction of $1,092,729.84. Following the completion of the transaction, the vice president now directly owns 69,253 shares of the company’s stock, valued at approximately $9,170,482.26. The disclosure for this sale can be found here. Insiders sold 795,672 shares of company stock valued at $100,669,538 in the last quarter. 12.25% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of WK. Ameritas Investment Partners Inc. grew its holdings in shares of Workiva by 2.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,326 shares of the software maker’s stock valued at $370,000 after buying an additional 95 shares during the last quarter. GWM Advisors LLC boosted its holdings in Workiva by 5.0% in the second quarter. GWM Advisors LLC now owns 2,497 shares of the software maker’s stock valued at $278,000 after purchasing an additional 118 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Workiva by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 24,173 shares of the software maker’s stock worth $2,690,000 after acquiring an additional 133 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Workiva by 10.1% during the 1st quarter. Fifth Third Bancorp now owns 1,597 shares of the software maker’s stock worth $141,000 after acquiring an additional 146 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Workiva by 3.9% during the 1st quarter. Prudential Financial Inc. now owns 4,371 shares of the software maker’s stock worth $386,000 after acquiring an additional 166 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

WK traded up $3.14 on Thursday, hitting $150.52. The company had a trading volume of 321,698 shares, compared to its average volume of 368,379. The company has a market cap of $7.59 billion, a PE ratio of -209.05 and a beta of 1.48. Workiva has a 12-month low of $52.81 and a 12-month high of $151.40. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 4.30. The business’s fifty day simple moving average is $134.10 and its 200 day simple moving average is $110.23.

Workiva Company Profile

Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Its platform, Wdesk, offers controlled collaboration, data linking, data integrations, granular permissions, process management and a full audit trail.

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