Workiva Inc (WK) Expected to Announce Quarterly Sales of $62.70 Million

Brokerages expect Workiva Inc (NYSE:WK) to post $62.70 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Workiva’s earnings. The highest sales estimate is $62.80 million and the lowest is $62.60 million. Workiva reported sales of $54.51 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15%. The company is expected to report its next earnings results after the market closes on Wednesday, February 20th.

According to Zacks, analysts expect that Workiva will report full-year sales of $242.67 million for the current fiscal year, with estimates ranging from $242.50 million to $243.00 million. For the next financial year, analysts forecast that the firm will post sales of $279.00 million, with estimates ranging from $278.00 million to $279.93 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Workiva.

A number of brokerages have commented on WK. Zacks Investment Research upgraded Workiva from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Saturday, November 17th. Morgan Stanley lowered their target price on Workiva from $28.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.67.

NYSE:WK traded up $0.46 during trading hours on Friday, reaching $44.24. 441,277 shares of the company traded hands, compared to its average volume of 260,846. The stock has a market cap of $1.93 billion, a PE ratio of -41.35 and a beta of 1.08. Workiva has a 1-year low of $20.50 and a 1-year high of $44.72.

In other Workiva news, Director Eugene S. Katz sold 29,800 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $36.13, for a total transaction of $1,076,674.00. Following the transaction, the director now owns 30,995 shares of the company’s stock, valued at approximately $1,119,849.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael M. Crow sold 5,000 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $36.21, for a total value of $181,050.00. Following the transaction, the director now directly owns 30,995 shares in the company, valued at approximately $1,122,328.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,798 shares of company stock worth $6,408,873. Corporate insiders own 29.94% of the company’s stock.

Several institutional investors have recently modified their holdings of WK. Bank of America Corp DE lifted its stake in shares of Workiva by 62.5% during the 2nd quarter. Bank of America Corp DE now owns 186,568 shares of the software maker’s stock worth $4,553,000 after purchasing an additional 71,777 shares during the period. Northern Trust Corp raised its position in shares of Workiva by 7.5% in the 2nd quarter. Northern Trust Corp now owns 419,478 shares of the software maker’s stock worth $10,234,000 after buying an additional 29,208 shares during the period. First Hawaiian Bank purchased a new position in shares of Workiva in the 3rd quarter worth $260,000. Ingalls & Snyder LLC purchased a new position in shares of Workiva in the 3rd quarter worth $294,000. Finally, Engineers Gate Manager LP raised its position in shares of Workiva by 155.5% in the 3rd quarter. Engineers Gate Manager LP now owns 43,007 shares of the software maker’s stock worth $1,699,000 after buying an additional 26,172 shares during the period. 43.58% of the stock is currently owned by institutional investors.

Workiva Company Profile

Workiva Inc operates as a cloud provider of connected data, reporting, and compliance solutions for enterprises and government agencies worldwide. The company provides Wdesk, a cloud platform that modernizes how customers work with business data at thousands of organizations; and Wdata, which centralizes financial and nonfinancial data from diverse sources into a cloud solution.

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