Workiva Inc. (WK) Rating Reiterated by SunTrust Banks, Inc.
Workiva Inc. (NYSE:WK)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks, Inc. in a research note issued on Wednesday. They currently have a $24.00 target price on the software maker’s stock, up from their previous target price of $22.00. SunTrust Banks, Inc.’s price target would suggest a potential upside of 20.30% from the company’s current price.
Other analysts have also issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 target price on shares of Workiva in a research note on Friday, August 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (up previously from $16.00) on shares of Workiva in a research note on Tuesday, July 25th. BidaskClub lowered shares of Workiva from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Workiva in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.57.
Shares of Workiva (WK) opened at 20.15 on Wednesday. The firm has a 50-day moving average of $19.67 and a 200-day moving average of $18.16. The firm’s market cap is $842.79 million. Workiva has a 52 week low of $12.15 and a 52 week high of $20.95.
Workiva (NYSE:WK) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The firm had revenue of $49.40 million during the quarter, compared to analyst estimates of $48.37 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue was up 14.9% compared to the same quarter last year. On average, analysts expect that Workiva will post ($0.63) EPS for the current year.
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In related news, major shareholder Jerome M. Behar sold 125,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $20.52, for a total transaction of $2,565,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jerome M. Behar sold 115,195 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $20.00, for a total transaction of $2,303,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 456,186 shares of company stock valued at $9,167,860. 33.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ETF Managers Group LLC purchased a new stake in Workiva during the second quarter valued at about $118,000. Legal & General Group Plc lifted its holdings in Workiva by 9.3% during 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 last quarter. Bank of Montreal Can purchased a new stake in Workiva during the second quarter valued at about $162,000. Voya Investment Management LLC purchased a new stake in Workiva during the second quarter valued at about $192,000. Finally, American International Group Inc. lifted its holdings in Workiva by 7.0% during the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock valued at $212,000 after purchasing an additional 888 shares during the last quarter. Institutional investors own 43.27% 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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