Workiva (NYSE:WK) Lowered to Hold at Stifel Nicolaus

Workiva (NYSE:WKGet Rating) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Briefing.com reports. They presently have a $80.00 target price on the software maker’s stock, down from their prior target price of $120.00. Stifel Nicolaus’ target price indicates a potential downside of 14.97% from the company’s current price.

A number of other analysts have also recently weighed in on the company. William Blair restated an “outperform” rating on shares of Workiva in a research note on Wednesday, February 23rd. StockNews.com began coverage on Workiva in a report on Thursday, March 31st. They issued a “hold” rating for the company. BMO Capital Markets cut their price objective on shares of Workiva from $135.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 23rd. Robert W. Baird dropped their target price on shares of Workiva from $190.00 to $150.00 in a research report on Wednesday, February 23rd. Finally, Zacks Investment Research lowered shares of Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $128.00.

NYSE:WK opened at $94.08 on Wednesday. Workiva has a 12-month low of $83.65 and a 12-month high of $173.24. The firm has a market cap of $4.89 billion, a PE ratio of -125.44 and a beta of 1.52. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $106.15 and a 200 day moving average price of $121.90.

Workiva (NYSE:WKGet Rating) last released its earnings results on Tuesday, May 3rd. The software maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.10. Workiva had a negative net margin of 8.51% and a negative return on equity of 39.05%. The firm had revenue of $129.60 million for the quarter, compared to analyst estimates of $127.42 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities analysts forecast that Workiva will post -1.91 EPS for the current year.

In related news, Director Robert H. Herz sold 1,500 shares of Workiva stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $95.71, for a total value of $143,565.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael D. Hawkins sold 3,433 shares of the company’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $120.00, for a total value of $411,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,975 shares of company stock valued at $1,271,908. Corporate insiders own 12.25% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of WK. Arizona State Retirement System increased its holdings in Workiva by 5.4% in the first quarter. Arizona State Retirement System now owns 10,985 shares of the software maker’s stock valued at $1,296,000 after buying an additional 566 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Workiva by 30.7% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 2,351 shares of the software maker’s stock worth $277,000 after acquiring an additional 552 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Workiva by 7.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 24,634 shares of the software maker’s stock valued at $2,907,000 after purchasing an additional 1,670 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Workiva by 238.6% during the first quarter. Park Avenue Securities LLC now owns 5,312 shares of the software maker’s stock worth $627,000 after purchasing an additional 3,743 shares during the last quarter. Finally, Hardy Reed LLC raised its holdings in Workiva by 4.5% during the first quarter. Hardy Reed LLC now owns 3,162 shares of the software maker’s stock worth $373,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 85.21% of the company’s stock.

Workiva Company Profile (Get Rating)

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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