Workiva (NYSE:WK) was downgraded by investment analysts at Citigroup to a “market perform” rating in a research note issued to investors on Friday.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Northland Securities reiterated a “buy” rating and issued a $23.00 price objective on shares of Workiva in a research note on Sunday, October 29th. TheStreet upgraded shares of Workiva from a “d” rating to a “c-” rating in a research note on Wednesday, December 13th. Credit Suisse Group raised their price objective on shares of Workiva from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $24.00 price objective on shares of Workiva in a research note on Friday, November 3rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.86.
Shares of Workiva (NYSE WK) opened at $22.20 on Friday. The firm has a market cap of $1,092.22, a PE ratio of -20.75 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of -1.29. Workiva has a fifty-two week low of $13.30 and a fifty-two week high of $26.75.
Workiva (NYSE:WK) last issued its earnings results on Thursday, February 22nd. The software maker reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. The firm had revenue of $54.51 million during the quarter, compared to analysts’ expectations of $53.28 million. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. sell-side analysts expect that Workiva will post -0.99 EPS for the current year.
In other Workiva news, major shareholder Jerome M. Behar sold 11,080 shares of Workiva stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.66, for a total transaction of $284,312.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 46,000 shares of Workiva stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $22.15, for a total transaction of $1,018,900.00. The disclosure for this sale can be found here. Insiders sold 251,923 shares of company stock valued at $6,004,525 in the last quarter. Company insiders own 33.29% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Workiva during the fourth quarter worth about $240,000. TIAA CREF Investment Management LLC raised its position in Workiva by 27.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 138,205 shares of the software maker’s stock worth $2,958,000 after acquiring an additional 29,900 shares during the last quarter. Two Sigma Investments LP raised its position in Workiva by 47.3% during the fourth quarter. Two Sigma Investments LP now owns 145,610 shares of the software maker’s stock worth $3,116,000 after acquiring an additional 46,752 shares during the last quarter. Two Sigma Advisers LP raised its position in Workiva by 29.1% during the fourth quarter. Two Sigma Advisers LP now owns 168,700 shares of the software maker’s stock worth $3,610,000 after acquiring an additional 38,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Workiva during the fourth quarter worth about $337,000. Institutional investors own 38.52% of the company’s stock.
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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