Workiva (NYSE:WK) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Workiva (NYSE:WK) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities research analysts also recently commented on WK. Northland Securities reduced their target price on Workiva from $106.00 to $95.00 and set an outperform rating for the company in a report on Friday, August 2nd. William Blair reissued an outperform rating on shares of Workiva in a research note on Friday, May 3rd. Citigroup raised their price objective on Workiva from $103.00 to $105.00 and gave the company a buy rating in a research note on Friday, June 28th. Robert W. Baird cut their price objective on Workiva from $105.00 to $94.00 and set an outperform rating on the stock in a research note on Thursday, June 27th. Finally, BMO Capital Markets reissued an outperform rating and issued a $96.00 price objective on shares of Workiva in a research note on Tuesday, June 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $99.17.

Workiva Stock Performance

Shares of WK stock opened at $71.33 on Friday. Workiva has a 1 year low of $65.47 and a 1 year high of $116.00. The stock has a fifty day moving average of $73.43 and a two-hundred day moving average of $81.13. The firm has a market capitalization of $3.91 billion, a PE ratio of -41.47 and a beta of 1.07.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.36) EPS. Equities research analysts predict that Workiva will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock worth $439,767,000 after buying an additional 181,520 shares during the period. Champlain Investment Partners LLC raised its holdings in Workiva by 58.2% during the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock worth $113,642,000 after acquiring an additional 492,945 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Workiva by 4.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,275,009 shares of the software maker’s stock worth $129,452,000 after acquiring an additional 51,506 shares in the last quarter. Brown Capital Management LLC raised its stake in Workiva by 22.6% in the fourth quarter. Brown Capital Management LLC now owns 1,271,707 shares of the software maker’s stock valued at $129,116,000 after buying an additional 234,255 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in Workiva by 2.8% in the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock valued at $86,745,000 after buying an additional 32,230 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.