Zacks Investment Research Upgrades Workiva Inc. (WK) to “Buy”

Workiva Inc. (NYSE:WK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, October 5th. The brokerage presently has a $24.00 price objective on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.11% from the company’s current price.

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. “

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird increased their target price on Workiva from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, September 21st. SunTrust Banks, Inc. restated a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Workiva in a report on Wednesday, September 20th. Northland Securities set a $23.00 target price on Workiva and gave the company a “buy” rating in a report on Sunday, September 10th. Stifel Nicolaus increased their target price on Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub cut Workiva from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.57.

Workiva (NYSE:WK) opened at 22.20 on Thursday. Workiva has a 12 month low of $12.15 and a 12 month high of $22.70. The stock’s 50 day moving average price is $20.62 and its 200-day moving average price is $18.94. The company’s market capitalization is $928.54 million.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. On average, equities research analysts predict that Workiva will post ($0.63) EPS for the current fiscal year.

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In other Workiva news, major shareholder Jerome M. Behar sold 115,195 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $20.00, for a total value of $2,303,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jerome M. Behar sold 1,839 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $20.00, for a total value of $36,780.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,898 shares of company stock valued at $7,342,819. Company insiders own 33.29% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its holdings in Workiva by 7.0% in the 1st quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after buying an additional 888 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Workiva by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 72,076 shares of the software maker’s stock worth $1,128,000 after buying an additional 3,762 shares during the period. First PREMIER Bank raised its position in shares of Workiva by 15.6% in the 2nd quarter. First PREMIER Bank now owns 13,724 shares of the software maker’s stock worth $261,000 after acquiring an additional 1,855 shares in the last quarter. Strs Ohio raised its position in shares of Workiva by 1,346.7% in the 2nd quarter. Strs Ohio now owns 21,700 shares of the software maker’s stock worth $413,000 after acquiring an additional 20,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Workiva by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 1,189,018 shares of the software maker’s stock worth $18,609,000 after acquiring an additional 141,977 shares in the last quarter. Institutional investors and hedge funds own 32.18% of the company’s stock.

About Workiva

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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