Zacks Investment Research cut shares of Workiva Inc. (NYSE:WK) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Workiva LLC offers a cloud-based and mobile-enabled platform for enterprises to collect, manage, report and analyze critical business data in real time. The company provides solutions for compliance, risk, sustainability and management reporting as well as enterprise risk management. It serves the manufacturing and materials, energy and utilities, financial services, healthcare, media and entertainment, real estate, retail, consumer goods, services, transportation and technology and telecom industries. Workiva LLC is headquartered in Ames, Iowa. “
A number of other analysts have also commented on the company. BidaskClub lowered Workiva from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Northland Securities reiterated a buy rating and issued a $23.00 price objective on shares of Workiva in a research report on Sunday, October 29th. Morgan Stanley lifted their price objective on Workiva from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Monday, October 23rd. Credit Suisse Group lifted their price objective on Workiva from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus lifted their price objective on Workiva from $21.00 to $23.00 and gave the stock a buy rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $22.14.
Shares of Workiva (NYSE:WK) opened at $22.10 on Tuesday. Workiva has a 12 month low of $12.15 and a 12 month high of $23.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of -1.29.
Workiva (NYSE:WK) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.17. The company had revenue of $52.10 million during the quarter, compared to analyst estimates of $50.64 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.83%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted ($0.23) earnings per share. research analysts anticipate that Workiva will post -1.1 EPS for the current fiscal year.
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In other Workiva news, major shareholder Jerome M. Behar sold 2,442 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total transaction of $57,142.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Jerome M. Behar sold 57,186 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.00, for a total value of $1,143,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,535 shares of company stock worth $5,703,861. Company insiders own 33.29% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Old Mutual Global Investors UK Ltd. bought a new position in Workiva during the third quarter worth about $106,000. ETF Managers Group LLC bought a new position in Workiva during the second quarter worth about $118,000. Legal & General Group Plc lifted its holdings in shares of Workiva by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after purchasing an additional 597 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Workiva during the 2nd quarter valued at about $162,000. Finally, Voya Investment Management LLC bought a new position in shares of Workiva during the 2nd quarter valued at about $192,000. Hedge funds and other institutional investors own 32.20% of the company’s stock.
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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