Workiva (WK) Rating Increased to Buy at Zacks Investment Research

Workiva (NYSE:WK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $38.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 4.97% from the stock’s previous close.

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 a number of other reports. Morgan Stanley downgraded Workiva from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $20.00 to $28.00 in a research report on Tuesday, September 18th. Northland Securities raised their price objective on Workiva from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. SunTrust Banks raised their price objective on Workiva to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Stifel Nicolaus raised their price objective on Workiva from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, Robert W. Baird upgraded Workiva from a “neutral” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $39.00.

Workiva stock opened at $36.20 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -33.83 and a beta of 1.04. Workiva has a 12 month low of $20.50 and a 12 month high of $40.84.

Workiva (NYSE:WK) last posted its earnings results on Wednesday, November 7th. The software maker reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.11. The firm had revenue of $60.87 million during the quarter, compared to the consensus estimate of $59.84 million. Workiva’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, equities research analysts anticipate that Workiva will post -1.03 EPS for the current fiscal year.

In related news, CAO Jill Klindt sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $35.11, for a total transaction of $122,885.00. Following the completion of the sale, the chief accounting officer now owns 34,354 shares of the company’s stock, valued at $1,206,168.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin J. Vanderploeg sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $35.82, for a total value of $895,500.00. The disclosure for this sale can be found here. Insiders have sold 28,700 shares of company stock valued at $1,025,791 in the last ninety days. 29.94% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WK. SG Americas Securities LLC acquired a new stake in Workiva during the second quarter worth approximately $127,000. Russell Investments Group Ltd. grew its stake in Workiva by 114.3% during the first quarter. Russell Investments Group Ltd. now owns 7,500 shares of the software maker’s stock worth $178,000 after purchasing an additional 4,000 shares during the period. Kessler Investment Group LLC acquired a new stake in Workiva during the third quarter worth approximately $213,000. Verition Fund Management LLC acquired a new stake in Workiva during the third quarter worth approximately $217,000. Finally, Ibex Investors LLC acquired a new stake in Workiva during the third quarter worth approximately $222,000. 42.22% of the stock is owned by institutional investors and hedge funds.

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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