Workiva Inc. (NYSE:WK) Receives Average Rating of “Buy” from Brokerages

Workiva Inc. (NYSE:WK) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $108.43.

A number of research firms recently weighed in on WK. Truist lifted their target price 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 raised their price target on shares of Workiva from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. William Blair reiterated a “buy” rating on shares of Workiva in a research note on Wednesday, August 4th. Finally, Zacks Investment Research raised shares of Workiva from a “sell” rating to a “hold” rating in a report on Tuesday, August 10th.

In other Workiva news, VP Jeff D. Trom sold 25,000 shares of the stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $113.49, for a total transaction of $2,837,250.00. Following the transaction, the vice president now owns 270,976 shares in the company, valued at approximately $30,753,066.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert H. Herz sold 17,870 shares of the stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $133.13, for a total transaction of $2,379,033.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 778,172 shares of company stock worth $99,420,913. Company insiders own 12.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Workiva by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,268,702 shares of the software maker’s stock valued at $475,235,000 after purchasing an additional 121,366 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Workiva by 15.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,206,801 shares of the software maker’s stock worth $245,683,000 after purchasing an additional 292,834 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Workiva during the first quarter valued at about $103,587,000. Praesidium Investment Management Company LLC grew its holdings in shares of Workiva by 6.3% during the second quarter. Praesidium Investment Management Company LLC now owns 1,104,194 shares of the software maker’s stock valued at $122,930,000 after buying an additional 65,174 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Workiva by 14.0% during the second quarter. Champlain Investment Partners LLC now owns 1,087,895 shares of the software maker’s stock valued at $121,115,000 after purchasing an additional 133,695 shares in the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

NYSE WK traded up $3.64 on Thursday, reaching $152.26. 223,971 shares of the stock traded hands, compared to its average volume of 373,042. Workiva has a 12 month low of $52.86 and a 12 month high of $156.48. The firm’s fifty day simple moving average is $138.09 and its 200 day simple moving average is $112.53. The company has a market cap of $7.68 billion, a price-to-earnings ratio of -211.47 and a beta of 1.48. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 4.30.

Workiva (NYSE:WK) last released its earnings results on Tuesday, August 3rd. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $105.59 million during the quarter, compared to analyst estimates of $101.59 million. As a group, equities research analysts forecast that Workiva will post -0.97 EPS for the current fiscal year.

About Workiva

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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Analyst Recommendations for Workiva (NYSE:WK)

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