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

Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

Shares of NYSE:WK opened at $127.94 on Thursday. The stock has a market cap of $6.40 billion, a P/E ratio of -136.11 and a beta of 1.43. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 4.42. Workiva has a one year low of $51.44 and a one year high of $129.44. The company’s 50-day moving average is $106.10.

Workiva (NYSE:WK) last announced its earnings results on Tuesday, May 4th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $104.20 million for the quarter, compared to the consensus estimate of $100.43 million. Workiva had a negative return on equity of 51.48% and a negative net margin of 12.33%. The company’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. Equities research analysts expect that Workiva will post -1.11 EPS for the current year.

In other Workiva news, CFO Jill Klindt sold 9,000 shares of Workiva stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $91.28, for a total transaction of $821,520.00. Following the sale, the chief financial officer now directly owns 43,813 shares in the company, valued at approximately $3,999,250.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff D. Trom sold 25,000 shares of Workiva stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $96.11, for a total value of $2,402,750.00. Following the sale, the vice president now owns 270,976 shares in the company, valued at $26,043,503.36. The disclosure for this sale can be found here. Insiders have sold a total of 136,500 shares of company stock worth $14,301,670 over the last 90 days. 12.25% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. TD Asset Management Inc. increased its holdings in Workiva by 47.7% during the 1st quarter. TD Asset Management Inc. now owns 17,431 shares of the software maker’s stock worth $1,538,000 after purchasing an additional 5,631 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Workiva by 20.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 414,868 shares of the software maker’s stock worth $36,616,000 after acquiring an additional 70,422 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Workiva by 0.7% in the 1st quarter. Nordea Investment Management AB now owns 128,002 shares of the software maker’s stock worth $11,143,000 after acquiring an additional 882 shares in the last quarter. Standard Life Aberdeen plc grew its position in shares of Workiva by 32.4% in the 1st quarter. Standard Life Aberdeen plc now owns 516,310 shares of the software maker’s stock worth $45,573,000 after acquiring an additional 126,387 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Workiva by 10.5% in the 4th quarter. Truist Financial Corp now owns 73,323 shares of the software maker’s stock worth $6,718,000 after acquiring an additional 6,953 shares in the last quarter. Institutional investors own 72.99% of the company’s stock.

About Workiva

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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