Workiva Inc. (NYSE:WK) Issues FY17 Earnings Guidance

Geronimo Vena
Agosto 6, 2017

Finally, SunTrust Banks, Inc. assumed coverage on shares of Workiva in a research report on Monday, June 26th. The firm now has a $18.00 price target on the software maker's stock. Stifel Nicolaus' price objective points to a potential upside of 5.00% from the stock's previous close. Morgan Stanley restated an "equal weight" rating and set a $18.00 price objective (up from $16.00) on shares of Workiva in a research report on Tuesday, July 25th.

Northland Securities reiterated their buy rating on shares of Workiva Inc.

Workiva Inc. (NYSE:WK) issued an update on its FY17 earnings guidance on Thursday morning. They issued a "buy" rating and a $22.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Workiva presently has a consensus rating of "Buy" and an average price target of $18.88. (WK) traded up 4.71% during midday trading on Friday, reaching $20.00. 175,786 shares of the stock traded hands. The firm has a 50 day moving average of $19.51 and a 200-day moving average of $16.63. Workiva Inc. The stock's market cap is $827.54 million.

The company has a one year high of $20.95 and a one year low of $12.15.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.06. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The company issued revenue guidance of $205-206 million, compared to the consensus revenue estimate of $204.70 million.Workiva also updated its Q3 guidance to ($0.30)-($0.29) EPS. During the same period a year ago, the business posted ($0.20) earnings per share. The company's quarterly revenue was up 14.9% on a year-over-year basis.

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In other news, major shareholder Jerome M. Behar sold 53,500 shares of the business's stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $18.12, for a total value of $298,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 16,500 shares of the business's stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $18.13, for a total value of $969,955.00. Following the completion of the transaction, the vice president now owns 22,048 shares in the company, valued at $410,313.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,445 shares of company stock worth $8,008,143. HighTower Advisors LLC now owns 57,732 shares of the software maker's stock valued at $904,000 after buying an additional 900 shares during the period.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Highwater Wealth Management LLC purchased a new position in Workiva during the first quarter worth about $11,738,000. Oberndorf William E now owns 2,369,384 shares of the software maker's stock valued at $37,081,000 after buying an additional 662,408 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Workiva by 1.6% in the first quarter. Wells Fargo & Company MN owned 0.10% of Workiva worth $656,000 at the end of the most recent quarter. UBS Asset Management Americas Inc. boosted its stake in Workiva by 27.6% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 123,679 shares of the software maker's stock valued at $1,936,000 after buying an additional 113,250 shares in the last quarter. Finally, State Street Corp increased its position in shares of Workiva by 4.4% in the fourth quarter. First PREMIER Bank now owns 13,724 shares of the software maker's stock valued at $261,000 after buying an additional 1,855 shares during the period. Frontier Capital Management Co. Institutional investors own 40.77% of the company's stock.

Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. Its platform, Wydesk, includes proprietary 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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