Workiva Inc. (WK) Major Shareholder Sells $57,142.80 in Stock
Workiva Inc. (NYSE:WK) major shareholder Jerome M. Behar sold 2,442 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Workiva Inc. (NYSE:WK) traded down $0.35 during midday trading on Thursday, reaching $21.90. 163,200 shares of the company’s stock traded hands, compared to its average volume of 140,053. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of -1.29. Workiva Inc. has a twelve month low of $12.15 and a twelve month high of $23.70.
Workiva (NYSE:WK) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share 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 during the quarter, compared to the consensus estimate of $50.64 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. sell-side analysts predict that Workiva Inc. will post -1.1 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Workiva by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock worth $25,459,000 after purchasing an additional 147,450 shares during the last quarter. Highwater Wealth Management LLC lifted its stake in shares of Workiva by 3.1% during the third quarter. Highwater Wealth Management LLC now owns 773,367 shares of the software maker’s stock worth $16,125,000 after buying an additional 23,367 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of Workiva by 34.1% during the second quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock worth $9,272,000 after buying an additional 123,887 shares during the period. State Street Corp lifted its stake in shares of Workiva by 12.3% during the second quarter. State Street Corp now owns 371,323 shares of the software maker’s stock worth $7,074,000 after buying an additional 40,657 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Workiva by 12.0% during the second quarter. Northern Trust Corp now owns 279,409 shares of the software maker’s stock worth $5,323,000 after buying an additional 29,936 shares during the period. 32.20% of the stock is currently owned by institutional investors and hedge funds.
WK has been the topic of several analyst reports. Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. Northland Securities set a $23.00 price objective on Workiva and gave the stock a “buy” rating in a research note on Sunday, September 10th. BidaskClub lowered Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus upped their price objective on Workiva from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $24.00 price target on shares of Workiva in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.14.
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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