Wall Street brokerages expect that Workiva Inc. (NYSE:WK) will report $51.04 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Workiva’s earnings. The lowest sales estimate is $50.42 million and the highest is $51.60 million. Workiva reported sales of $44.71 million during the same quarter last year, which indicates a positive year over year growth rate of 14.2%. The business is expected to announce its next earnings report on Wednesday, November 8th.
On average, analysts expect that Workiva will report full year sales of $51.04 million for the current fiscal year, with estimates ranging from $204.05 million to $205.59 million. For the next financial year, analysts forecast that the business will report sales of $234.91 million per share, with estimates ranging from $229.80 million to $241.13 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Workiva.
Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.06. The company had revenue of $49.40 million for the quarter, compared to analysts’ expectations of $48.37 million. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. Workiva’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) earnings per share.
WK has been the subject of several research reports. Credit Suisse Group boosted their price target on shares of Workiva from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, May 15th. BidaskClub downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. SunTrust Banks, Inc. initiated coverage on shares of Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 price target for the company. Northland Securities restated a “buy” rating and issued a $18.00 price target on shares of Workiva in a research note on Friday, July 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $18.00 price target (up previously from $16.00) on shares of Workiva in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.88.
In related news, major shareholder Jerome M. Behar sold 48,710 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $20.25, for a total transaction of $986,377.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jerome M. Behar sold 53,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $18.13, for a total transaction of $969,955.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 398,945 shares of company stock valued at $7,709,163. Insiders own 33.40% of the company’s stock.
Several institutional investors have recently modified their holdings of WK. Legal & General Group Plc increased its position in shares of Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after buying an additional 597 shares during the last quarter. American International Group Inc. increased its position in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after buying an additional 888 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Workiva by 1.6% in the first quarter. HighTower Advisors LLC now owns 57,732 shares of the software maker’s stock worth $904,000 after buying an additional 900 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Workiva by 2.4% in the first quarter. Teachers Advisors LLC now owns 72,894 shares of the software maker’s stock worth $1,141,000 after buying an additional 1,680 shares during the last quarter. Finally, First PREMIER Bank increased its position in shares of Workiva by 15.6% in the second quarter. First PREMIER Bank now owns 13,724 shares of the software maker’s stock worth $261,000 after buying an additional 1,855 shares during the last quarter. Hedge funds and other institutional investors own 41.36% of the company’s stock.
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Shares of Workiva (NYSE:WK) opened at 19.45 on Tuesday. The company’s market cap is $804.78 million. Workiva has a 12 month low of $12.15 and a 12 month high of $20.95. The firm’s 50-day moving average price is $19.51 and its 200 day moving average price is $16.63.
Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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