Workiva (NYSE:WK) Rating Lowered to Sell at Zacks Investment Research

Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

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, Stifel Nicolaus cut their price objective on Workiva from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, December 22nd. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $131.17.

WK opened at $116.82 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $134.50 and its 200 day moving average price is $136.43. Workiva has a one year low of $80.00 and a one year high of $173.24. The stock has a market capitalization of $5.94 billion, a PE ratio of -185.43 and a beta of 1.41.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 3rd. The software maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.27. Workiva had a negative return on equity of 31.90% and a negative net margin of 7.55%. The company had revenue of $112.69 million for the quarter, compared to analysts’ expectations of $108.52 million. As a group, equities research analysts forecast that Workiva will post -0.6 earnings per share for the current fiscal year.

In other news, CEO Martin J. Vanderploeg sold 17,500 shares of the stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $142.37, for a total transaction of $2,491,475.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff D. Trom sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $149.31, for a total transaction of $3,732,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 998,500 shares of company stock worth $150,840,225. Corporate insiders own 12.25% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Workiva by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,268,702 shares of the software maker’s stock valued at $475,235,000 after acquiring an additional 121,366 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Workiva by 15.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,206,801 shares of the software maker’s stock worth $245,683,000 after buying an additional 292,834 shares in the last quarter. Invesco Ltd. lifted its holdings in Workiva by 1,215.3% in the 3rd quarter. Invesco Ltd. now owns 1,270,783 shares of the software maker’s stock worth $179,130,000 after buying an additional 1,174,169 shares in the last quarter. Praesidium Investment Management Company LLC lifted its holdings in Workiva by 6.3% in the 2nd quarter. Praesidium Investment Management Company LLC now owns 1,104,194 shares of the software maker’s stock worth $122,930,000 after buying an additional 65,174 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in Workiva by 14.0% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,087,895 shares of the software maker’s stock worth $121,115,000 after buying an additional 133,695 shares in the last quarter. 87.41% of the stock is owned by hedge funds and other institutional investors.

About Workiva

Workiva, Inc engages in the provision of cloud-based compliance and regulatory reporting solutions that are designed to solve business challenges at the intersection of data, process and people. Its platform, Wdesk, offers controlled collaboration, data linking, data integrations, granular permissions, process management and a full audit trail.

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