BidaskClub Downgrades Workiva Inc. (WK) to Hold
Workiva Inc. (NYSE:WK) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other analysts also recently commented on WK. Credit Suisse Group increased their price target on Workiva from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 5th. SunTrust Banks, Inc. started coverage on Workiva in a research report on Monday, June 26th. They set a “buy” rating and a $22.00 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $18.00 price target (up from $16.00) on shares of Workiva in a research report on Tuesday, July 25th. Northland Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of Workiva in a research report on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 price target on shares of Workiva in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.88.
Workiva (NYSE:WK) traded down 2.351% on Thursday, hitting $18.651. The company’s stock had a trading volume of 7,584 shares. The firm has a 50 day moving average of $19.59 and a 200-day moving average of $16.84. Workiva has a 12 month low of $12.15 and a 12 month high of $20.95. The stock’s market cap is $780.10 million.
Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.06. The company had revenue of $49.40 million during the quarter, compared to the consensus estimate of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. Workiva’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. On average, analysts expect that Workiva will post ($0.63) earnings per share for the current fiscal year.
In other Workiva news, major shareholder Jerome M. Behar sold 36,579 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $20.00, for a total value of $731,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 125,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $20.52, for a total value of $2,565,000.00. The disclosure for this sale can be found here. Insiders sold 435,524 shares of company stock valued at $8,440,743 over the last three months. Company insiders own 33.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in WK. State Street Corp increased its stake in Workiva by 4.4% in the fourth quarter. State Street Corp now owns 331,358 shares of the software maker’s stock worth $4,524,000 after buying an additional 13,881 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Workiva by 64.0% in the fourth quarter. Renaissance Technologies LLC now owns 61,000 shares of the software maker’s stock valued at $833,000 after buying an additional 23,800 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Workiva by 27.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 40,703 shares of the software maker’s stock valued at $556,000 after buying an additional 8,810 shares during the period. Teachers Advisors LLC boosted its position in shares of Workiva by 88.1% in the fourth quarter. Teachers Advisors LLC now owns 71,214 shares of the software maker’s stock valued at $972,000 after buying an additional 33,349 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Workiva by 1,085.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 123,679 shares of the software maker’s stock valued at $1,936,000 after buying an additional 113,250 shares during the period. 41.36% of the stock is owned by institutional investors and hedge funds.
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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