Workiva (WK) Rating Lowered to Sell at Zacks Investment Research

Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, November 14th.

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. “

WK has been the topic of several other research reports. SunTrust Banks restated a “buy” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Workiva in a research report on Wednesday, September 20th. Northland Securities reiterated a “buy” rating and set a $18.00 target price on shares of Workiva in a research report on Friday, July 28th. Stifel Nicolaus raised their price objective on Workiva from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Morgan Stanley raised their price objective on Workiva from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Finally, BidaskClub lowered Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.14.

Workiva (WK) traded up $0.05 on Tuesday, hitting $21.80. 215,556 shares of the stock traded hands, compared to its average volume of 163,539. Workiva has a 12-month low of $12.15 and a 12-month high of $23.70. The company has a debt-to-equity ratio of -1.29, a quick ratio of 0.90 and a current ratio of 0.90.

Workiva (NYSE:WK) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.17. Workiva had a negative net margin of 18.83% and a negative return on equity of 13,251.94%. The firm had revenue of $52.10 million for the quarter, compared to the consensus estimate of $50.64 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. analysts anticipate that Workiva will post -1.1 earnings per share for the current fiscal year.

In related news, major shareholder Jerome M. Behar sold 3,798 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $20.25, for a total transaction of $76,909.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jerome M. Behar sold 2,442 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $23.40, for a total value of $57,142.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,154 shares of company stock valued at $2,256,241. 33.29% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Old Mutual Global Investors UK Ltd. acquired a new position in Workiva during the third quarter worth approximately $106,000. ETF Managers Group LLC acquired a new position in shares of Workiva in the second quarter valued at approximately $118,000. Legal & General Group Plc increased its holdings in shares of Workiva by 9.3% in the second 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 during the period. Bank of Montreal Can acquired a new position in shares of Workiva in the second quarter valued at approximately $162,000. Finally, Voya Investment Management LLC acquired a new position in shares of Workiva in the second quarter valued at approximately $192,000. Hedge funds and other institutional investors own 35.16% of the company’s stock.

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Workiva Company Profile

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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