Workiva (WK) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Workiva (NYSE:WK) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $39.00 price target on the software maker’s stock.

According to Zacks, “Workiva LLC offers a cloud-based and mobile-enabled platform for enterprises to collect, manage, report and analyze critical business data in real time. The company provides solutions for compliance, risk, sustainability and management reporting as well as enterprise risk management. It serves the manufacturing and materials, energy and utilities, financial services, healthcare, media and entertainment, real estate, retail, consumer goods, services, transportation and technology and telecom industries. Workiva LLC is headquartered in Ames, Iowa. “

WK has been the subject of several other research reports. Robert W. Baird raised Workiva from a neutral rating to an outperform rating and set a $42.00 price target for the company in a research note on Tuesday, September 25th. Northland Securities lifted their price target on Workiva from $30.00 to $40.00 and gave the stock an outperform rating in a research note on Monday, September 24th. Morgan Stanley dropped their price target on Workiva from $28.00 to $26.00 and set an underweight rating for the company in a research note on Tuesday, October 23rd. SunTrust Banks lifted their price target on Workiva to $46.00 and gave the stock a buy rating in a research note on Wednesday, September 26th. Finally, Stifel Nicolaus lifted their price target on Workiva from $35.00 to $42.00 and gave the stock a buy rating in a research note on Friday, September 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $39.17.

Shares of WK stock opened at $35.01 on Friday. Workiva has a 12-month low of $20.50 and a 12-month high of $40.84. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -32.72 and a beta of 1.06.

Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 7th. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.11. The firm had revenue of $60.87 million for the quarter, compared to the consensus estimate of $59.84 million. During the same period last year, the firm earned ($0.23) EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, sell-side analysts forecast that Workiva will post -1.03 EPS for the current year.

In other news, CEO Martin J. Vanderploeg sold 25,000 shares of Workiva stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $35.82, for a total value of $895,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jeff D. Trom sold 20,000 shares of Workiva stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $33.84, for a total value of $676,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,500 shares of company stock worth $3,144,165. Company insiders own 29.94% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of Workiva in the second quarter worth about $311,000. Engineers Gate Manager LP purchased a new position in shares of Workiva in the second quarter worth about $411,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Workiva in the second quarter worth about $1,645,000. SG Americas Securities LLC purchased a new position in shares of Workiva in the second quarter worth about $127,000. Finally, First Hawaiian Bank purchased a new position in shares of Workiva in the third quarter worth about $260,000. Hedge funds and other institutional investors own 46.05% of the company’s stock.

Workiva Company Profile

Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.

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