Workiva (NYSE:WK) Issues Earnings Results, Beats Estimates By $0.13 EPS

Workiva (NYSE:WK) posted its quarterly earnings results on Tuesday. The software maker reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13, FiscalAI reports. The business had revenue of $255.29 million during the quarter, compared to the consensus estimate of $251.16 million. Workiva had a net margin of 1.53% and a negative return on equity of 68.43%.

Workiva Price Performance

WK traded down $0.05 during midday trading on Tuesday, reaching $61.15. 765,865 shares of the company’s stock traded hands, compared to its average volume of 1,003,470. Workiva has a 52 week low of $43.34 and a 52 week high of $97.10. The firm has a fifty day moving average of $51.58 and a two-hundred day moving average of $58.12. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 265.87 and a beta of 0.46.

Analyst Upgrades and Downgrades

WK has been the topic of a number of recent research reports. Weiss Ratings cut Workiva from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Stephens reissued an “overweight” rating and issued a $68.00 target price on shares of Workiva in a research note on Tuesday, May 26th. Zacks Research cut Workiva from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Stifel Nicolaus reduced their price target on Workiva from $79.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Workiva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.50.

Insider Buying and Selling at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $49.69, for a total transaction of $49,690.00. Following the transaction, the director directly owned 34,802 shares of the company’s stock, valued at approximately $1,729,311.38. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.77% of the company’s stock.

Institutional Trading of Workiva

Several large investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Workiva during the 3rd quarter valued at about $88,289,000. Fuller & Thaler Asset Management Inc. raised its stake in Workiva by 11.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 893,859 shares of the software maker’s stock worth $77,095,000 after buying an additional 91,808 shares in the last quarter. UBS Group AG raised its stake in Workiva by 40.8% in the third quarter. UBS Group AG now owns 778,118 shares of the software maker’s stock worth $66,980,000 after buying an additional 225,449 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Workiva by 12.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 588,807 shares of the software maker’s stock worth $50,785,000 after buying an additional 64,999 shares during the period. Finally, Barclays PLC grew its holdings in shares of Workiva by 531.6% during the 4th quarter. Barclays PLC now owns 582,586 shares of the software maker’s stock worth $50,248,000 after acquiring an additional 490,351 shares during the period. Institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.