Workiva (NYSE:WK) Issues Quarterly Earnings Results

Workiva (NYSE:WK) issued its quarterly earnings results on Wednesday. The software maker reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06), reports. The business had revenue of $185.62 million during the quarter, compared to analyst estimates of $182.50 million.

Workiva Stock Up 3.6 %

Workiva stock opened at $94.76 on Friday. The business’s 50-day moving average price is $78.71 and its 200 day moving average price is $77.25. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -103.00 and a beta of 1.05. Workiva has a 52 week low of $65.47 and a 52 week high of $105.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WK shares. Robert W. Baird lifted their price objective on shares of Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Northland Securities lowered their price target on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus increased their price objective on Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a report on Thursday. StockNews.com cut Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, BMO Capital Markets upped their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.20.

Insider Activity at Workiva

In related news, EVP Michael D. Hawkins sold 2,761 shares of Workiva stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WK. Janney Montgomery Scott LLC increased its position in shares of Workiva by 4.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,935 shares of the software maker’s stock valued at $1,690,000 after buying an additional 821 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Workiva in the first quarter valued at approximately $45,000. FORA Capital LLC increased its position in shares of Workiva by 17.1% in the first quarter. FORA Capital LLC now owns 5,478 shares of the software maker’s stock valued at $465,000 after buying an additional 801 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Workiva by 1,318.3% in the first quarter. SG Americas Securities LLC now owns 14,935 shares of the software maker’s stock valued at $1,266,000 after buying an additional 13,882 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Workiva by 1.0% in the first quarter. Swiss National Bank now owns 94,121 shares of the software maker’s stock valued at $7,981,000 after buying an additional 900 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Company Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.