Workiva Inc. (WK) to Post Q3 2018 Earnings of ($0.30) Per Share, SunTrust Banks Forecasts

Workiva Inc. (NYSE:WK) – Equities researchers at SunTrust Banks issued their Q3 2018 earnings estimates for Workiva in a research note issued on Tuesday. SunTrust Banks analyst T. Tillman expects that the software maker will post earnings per share of ($0.30) for the quarter. SunTrust Banks currently has a “Buy” rating and a $24.00 price target on the stock. SunTrust Banks also issued estimates for Workiva’s Q4 2018 earnings at ($0.20) EPS.

Several other brokerages have also issued reports on WK. Credit Suisse Group lifted their target price on shares of Workiva from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on shares of Workiva from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities reiterated a “buy” rating and set a $23.00 target price on shares of Workiva in a research report on Sunday, October 29th. Morgan Stanley lifted their price target on shares of Workiva from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd. Finally, Zacks Investment Research raised shares of Workiva from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $22.14.

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Shares of Workiva (WK) opened at $22.35 on Friday. Workiva has a 1 year low of $12.15 and a 1 year high of $23.70. The company has a quick ratio of 0.98, a current ratio of 0.90 and a debt-to-equity ratio of -1.29.

Workiva (NYSE:WK) last announced its earnings results on Tuesday, November 7th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.17. Workiva had a negative net margin of 18.83% and a negative return on equity of 13,251.94%. The business had revenue of $52.10 million during the quarter, compared to analyst estimates of $50.64 million. During the same period in the previous year, the business posted ($0.23) earnings per share. Workiva’s revenue for the quarter was up 16.6% on a year-over-year basis.

In related news, major shareholder Jerome M. Behar sold 1,839 shares of Workiva stock in a transaction on Monday, August 14th. The shares were sold at an average price of $20.00, for a total value of $36,780.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Jerome M. Behar sold 25,000 shares of Workiva stock in a transaction on Friday, October 6th. The stock was sold at an average price of $22.04, for a total transaction of $551,000.00. The disclosure for this sale can be found here. Insiders have sold 324,319 shares of company stock worth $6,611,239 over the last three months. Insiders own 33.29% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Workiva by 25.8% in the third quarter. Wells Fargo & Company MN now owns 53,198 shares of the software maker’s stock worth $1,110,000 after buying an additional 10,917 shares during the period. EAM Investors LLC purchased a new position in shares of Workiva in the third quarter worth $2,122,000. Russell Investments Group Ltd. purchased a new position in shares of Workiva in the third quarter worth $294,000. Bank of New York Mellon Corp increased its stake in shares of Workiva by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 101,597 shares of the software maker’s stock worth $2,118,000 after buying an additional 5,033 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Workiva in the third quarter worth $106,000. 32.15% of the stock is currently owned by institutional investors.

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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