Zacks: Analysts Expect Workiva Inc (NYSE:WK) Will Announce Quarterly Sales of $72.32 Million

Wall Street brokerages expect that Workiva Inc (NYSE:WK) will report $72.32 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Workiva’s earnings. The lowest sales estimate is $72.02 million and the highest is $72.50 million. Workiva reported sales of $60.87 million in the same quarter last year, which indicates a positive year over year growth rate of 18.8%. The business is expected to report its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Workiva will report full year sales of $290.79 million for the current year, with estimates ranging from $290.51 million to $291.00 million. For the next financial year, analysts forecast that the business will post sales of $338.19 million, with estimates ranging from $332.54 million to $342.98 million. Zacks’ sales averages are an average based on a survey of analysts that follow Workiva.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $73.48 million during the quarter, compared to analysts’ expectations of $68.96 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Workiva’s revenue was up 24.3% on a year-over-year basis.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Friday, July 5th. ValuEngine cut Workiva from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, SunTrust Banks upped their price target on Workiva to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Workiva currently has an average rating of “Buy” and an average price target of $46.83.

Shares of NYSE WK traded down $1.34 during trading on Friday, reaching $48.60. 451,226 shares of the stock traded hands, compared to its average volume of 605,195. Workiva has a 52-week low of $31.65 and a 52-week high of $64.11. The company has a debt-to-equity ratio of 3.80, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $57.53 and a 200-day moving average of $52.91. The stock has a market capitalization of $2.29 billion, a P/E ratio of -52.26 and a beta of 0.96.

In related news, CEO Martin J. Vanderploeg sold 575,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $56.25, for a total transaction of $32,343,750.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brigid A. Bonner acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $53.00 per share, for a total transaction of $26,500.00. Following the acquisition, the director now directly owns 6,426 shares in the company, valued at approximately $340,578. The disclosure for this purchase can be found here. Insiders have sold a total of 782,038 shares of company stock worth $44,310,138 in the last ninety days. Insiders own 18.46% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. lifted its holdings in Workiva by 238.1% during the 4th quarter. Advisor Group Inc. now owns 710 shares of the software maker’s stock worth $26,000 after purchasing an additional 500 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Workiva by 541.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 462 shares of the software maker’s stock worth $27,000 after purchasing an additional 390 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Workiva by 57.1% during the 4th quarter. Macquarie Group Ltd. now owns 1,100 shares of the software maker’s stock worth $39,000 after purchasing an additional 400 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Workiva during the 2nd quarter worth about $52,000. Finally, Advisory Services Network LLC purchased a new stake in Workiva during the 1st quarter worth about $89,000. 56.23% of the stock is currently owned by institutional investors and hedge funds.

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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