Workiva Inc (NYSE:WK) Given Consensus Rating of “Buy” by Analysts

Shares of Workiva Inc (NYSE:WK) have received an average recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $44.17.

WK has been the topic of several research analyst reports. Zacks Investment Research cut Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. SunTrust Banks boosted their target price on Workiva to $58.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd.

In related news, CEO Martin J. Vanderploeg sold 25,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $56.15, for a total value of $1,403,750.00. Following the sale, the chief executive officer now directly owns 314,918 shares of the company’s stock, valued at $17,682,645.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brigid A. Bonner purchased 500 shares of Workiva stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $53.00 per share, for a total transaction of $26,500.00. Following the completion of the purchase, the director now owns 6,426 shares of the company’s stock, valued at $340,578. The disclosure for this purchase can be found here. Insiders have sold 201,585 shares of company stock worth $10,628,405 over the last three months. Insiders own 18.46% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Workiva by 21.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 127,078 shares of the software maker’s stock valued at $5,020,000 after buying an additional 22,788 shares during the last quarter. Legal & General Group Plc grew its stake in Workiva by 14.9% in the 3rd quarter. Legal & General Group Plc now owns 4,718 shares of the software maker’s stock valued at $186,000 after buying an additional 611 shares during the last quarter. Rhumbline Advisers grew its stake in Workiva by 49.5% in the 4th quarter. Rhumbline Advisers now owns 37,595 shares of the software maker’s stock valued at $1,349,000 after buying an additional 12,454 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Workiva by 1.4% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 27,424 shares of the software maker’s stock valued at $984,000 after buying an additional 366 shares during the last quarter. Finally, Chicago Equity Partners LLC grew its stake in Workiva by 20.7% in the 4th quarter. Chicago Equity Partners LLC now owns 68,550 shares of the software maker’s stock valued at $2,460,000 after buying an additional 11,771 shares during the last quarter. 51.49% of the stock is currently owned by institutional investors.

Shares of WK traded down $0.23 during mid-day trading on Friday, hitting $54.79. 166,600 shares of the company’s stock traded hands, compared to its average volume of 330,290. The company has a debt-to-equity ratio of 9.78, a quick ratio of 0.98 and a current ratio of 0.98. Workiva has a 1 year low of $23.95 and a 1 year high of $57.11. The stock has a market capitalization of $2.52 billion, a PE ratio of -58.91 and a beta of 1.01.

Workiva (NYSE:WK) last posted its earnings results on Wednesday, May 1st. The software maker reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The business had revenue of $69.96 million for the quarter, compared to analysts’ expectations of $69.11 million. During the same period last year, the firm posted ($0.09) earnings per share. Workiva’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Workiva will post -1.1 EPS for the current fiscal year.

Workiva Company Profile

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

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Analyst Recommendations for Workiva (NYSE:WK)

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