Workiva (NYSE:WK) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a report released on Thursday, Zacks.com reports. The brokerage currently has a $126.00 target price on the software maker's stock. Zacks Investment Research's price target indicates a potential upside of 11.57% 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. "
Separately, The Goldman Sachs Group raised their price target on shares of Workiva from $60.00 to $101.00 and gave the company a "neutral" rating in a report on Thursday, February 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of "Buy" and an average target price of $92.50.
Shares of Workiva stock opened at $112.93 on Thursday. Workiva has a 1 year low of $51.10 and a 1 year high of $114.68. The company has a market cap of $5.65 billion, a PE ratio of -120.14 and a beta of 1.42. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 4.42. The business's 50-day simple moving average is $95.93.
Workiva (NYSE:WK) last released its quarterly earnings results on Tuesday, May 4th. The software maker reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. Workiva had a negative net margin of 12.33% and a negative return on equity of 51.48%. The business had revenue of $104.20 million for the quarter, compared to analysts' expectations of $100.43 million. During the same period last year, the business earned $0.03 EPS. The company's revenue was up 21.4% compared to the same quarter last year. Research analysts predict that Workiva will post -1.11 earnings per share for the current year.
In other Workiva news, CEO Martin J. Vanderploeg sold 17,500 shares of the firm's stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $107.12, for a total transaction of $1,874,600.00. Following the completion of the transaction, the chief executive officer now directly owns 357,701 shares of the company's stock, valued at approximately $38,316,931.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeff D. Trom sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $96.11, for a total transaction of $2,402,750.00. Following the transaction, the vice president now directly owns 270,976 shares of the company's stock, valued at $26,043,503.36. The disclosure for this sale can be found here. Insiders sold a total of 94,000 shares of company stock valued at $9,362,845 over the last ninety days. 12.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Standard Life Aberdeen plc increased its holdings in shares of Workiva by 32.4% during the 1st quarter. Standard Life Aberdeen plc now owns 516,310 shares of the software maker's stock valued at $45,573,000 after purchasing an additional 126,387 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Workiva by 10.5% during the 4th quarter. Truist Financial Corp now owns 73,323 shares of the software maker's stock valued at $6,718,000 after purchasing an additional 6,953 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Workiva by 9.8% during the 4th quarter. Stifel Financial Corp now owns 17,767 shares of the software maker's stock valued at $1,628,000 after purchasing an additional 1,586 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Workiva during the 4th quarter valued at approximately $730,000. Finally, Northern Trust Corp increased its holdings in shares of Workiva by 0.9% during the 4th quarter. Northern Trust Corp now owns 618,433 shares of the software maker's stock valued at $56,662,000 after purchasing an additional 5,668 shares in the last quarter. 73.06% of the stock is owned by institutional investors.
About Workiva
Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, governance risk and compliance, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.
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