Workiva Inc. (WK) Expected to Post Quarterly Sales of $53.30 Million

Equities analysts predict that Workiva Inc. (NYSE:WK) will report sales of $53.30 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Workiva’s earnings. The lowest sales estimate is $53.20 million and the highest is $53.40 million. Workiva reported sales of $46.37 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.9%. The company is scheduled to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Workiva will report full year sales of $53.30 million for the current fiscal year, with estimates ranging from $206.57 million to $207.00 million. For the next fiscal year, analysts forecast that the company will report sales of $235.41 million per share, with estimates ranging from $234.97 million to $236.21 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Workiva.

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 Zacks’ consensus estimate of ($0.40) by $0.17. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.83%. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $50.64 million. During the same quarter in the prior year, the business posted ($0.23) EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis.

A number of equities analysts recently commented on the company. Credit Suisse Group lifted their price target on Workiva from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, November 8th. Stifel Nicolaus lifted their price target on Workiva from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks restated a “buy” rating and set a $24.00 price objective on shares of Workiva in a report on Friday, November 3rd. Northland Securities restated a “buy” rating and set a $23.00 price objective on shares of Workiva in a report on Sunday, October 29th. Finally, Morgan Stanley boosted their price objective on Workiva from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.14.

In other news, major shareholder Jerome M. Behar sold 24,798 shares of Workiva stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $20.21, for a total value of $501,167.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jerome M. Behar sold 1,289 shares of Workiva stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $20.95, for a total transaction of $27,004.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,349 shares of company stock valued at $4,560,141. Corporate insiders own 33.29% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Workiva by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock valued at $25,459,000 after acquiring an additional 147,450 shares during the period. Highwater Wealth Management LLC grew its position in shares of Workiva by 3.1% during the 3rd quarter. Highwater Wealth Management LLC now owns 773,367 shares of the software maker’s stock valued at $16,125,000 after acquiring an additional 23,367 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of Workiva by 34.1% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock valued at $9,272,000 after acquiring an additional 123,887 shares during the period. State Street Corp grew its position in shares of Workiva by 12.3% during the 2nd quarter. State Street Corp now owns 371,323 shares of the software maker’s stock valued at $7,074,000 after acquiring an additional 40,657 shares during the period. Finally, Northern Trust Corp grew its position in shares of Workiva by 12.0% during the 2nd quarter. Northern Trust Corp now owns 279,409 shares of the software maker’s stock valued at $5,323,000 after acquiring an additional 29,936 shares during the period. Institutional investors and hedge funds own 35.16% of the company’s stock.

Workiva (NYSE WK) traded down $0.57 during trading on Wednesday, reaching $22.33. The company had a trading volume of 20,245 shares, compared to its average volume of 140,982. Workiva has a fifty-two week low of $12.15 and a fifty-two week high of $23.70. The company has a debt-to-equity ratio of -1.29, a current ratio of 0.90 and a quick ratio of 0.90.

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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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