Workiva Inc. (WK) Receives Buy Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their buy rating on shares of Workiva Inc. (NYSE:WK) in a research report report published on Friday morning. SunTrust Banks, Inc. currently has a $24.00 price target on the software maker’s stock.

WK has been the subject of several other research reports. Zacks Investment Research raised shares of Workiva from a hold rating to a buy rating and set a $24.00 price target for the company in a research report on Thursday, October 5th. Northland Securities set a $23.00 price target on shares of Workiva and gave the company a buy rating in a research report on Sunday, September 10th. BidaskClub cut shares of Workiva from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Stifel Nicolaus raised their target price on shares of Workiva from $21.00 to $23.00 and gave the stock a buy rating in a research report on Friday, August 18th. Finally, Morgan Stanley raised their target price on shares of Workiva from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Monday, October 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $21.71.

Workiva (NYSE WK) traded up $0.40 during midday trading on Friday, reaching $22.90. The company’s stock had a trading volume of 128,037 shares, compared to its average volume of 126,560. The company has a debt-to-equity ratio of -3.11, a quick ratio of 0.98 and a current ratio of 0.98. Workiva has a one year low of $12.15 and a one year high of $22.95.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The business had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $48.37 million. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.20) EPS. analysts anticipate that Workiva will post -1.05 earnings per share for the current fiscal year.

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In related news, major shareholder Jerome M. Behar sold 9,500 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $22.04, for a total value of $209,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 36,579 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $20.00, for a total transaction of $731,580.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,898 shares of company stock valued at $7,342,819. Corporate insiders own 33.29% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. bought a new position in shares of Workiva in the 3rd quarter worth about $106,000. ETF Managers Group LLC bought a new position in shares of Workiva in the 2nd quarter worth about $118,000. Legal & General Group Plc increased its stake in shares of Workiva by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after acquiring an additional 597 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Workiva in the 2nd quarter worth about $162,000. Finally, Voya Investment Management LLC bought a new position in shares of Workiva in the 2nd quarter worth about $192,000. Institutional investors own 32.35% 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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