Workiva (NYSE:WK) Releases Earnings Results, Beats Estimates By $0.10 EPS

Workiva (NYSE:WK – Get Rating) released its earnings results on Tuesday. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10, MarketWatch Earnings reports. Workiva had a negative return on equity of 39.05% and a negative net margin of 8.51%. The company had revenue of $129.60 million during the quarter, compared to analyst estimates of $127.42 million. During the same quarter in the previous year, the company posted ($0.09) EPS. Workiva’s revenue for the quarter was up 24.4% on a year-over-year basis.

Shares of Workiva stock traded down $6.36 during midday trading on Thursday, hitting $81.41. The company had a trading volume of 3,469 shares, compared to its average volume of 281,682. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average of $105.92 and a 200 day moving average of $121.67. Workiva has a 52-week low of $77.06 and a 52-week high of $173.24.

A number of equities research analysts have recently weighed in on WK shares. Robert W. Baird lowered their target price on Workiva from $150.00 to $120.00 in a research note on Wednesday. Zacks Investment Research lowered Workiva from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. William Blair reaffirmed an “outperform” rating on shares of Workiva in a research report on Wednesday, February 23rd. Stifel Nicolaus lowered Workiva from a “buy” rating to a “hold” rating and lowered their price target for the company from $120.00 to $80.00 in a research report on Wednesday. Finally, Citigroup initiated coverage on Workiva in a research report on Tuesday, February 1st. They set a “buy” rating and a $135.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.00.

In other Workiva news, EVP Michael D. Hawkins sold 3,433 shares of the stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $120.00, for a total transaction of $411,960.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert H. Herz sold 1,500 shares of the stock in a transaction on Monday, March 14th. The shares were sold at an average price of $95.71, for a total value of $143,565.00. The disclosure for this sale can be found here. Insiders sold a total of 11,975 shares of company stock worth $1,271,908 in the last 90 days. 12.25% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Workiva by 16.7% during the 4th quarter. Deutsche Bank AG now owns 252,232 shares of the software maker’s stock valued at $32,914,000 after buying an additional 36,101 shares during the period. Sei Investments Co. raised its holdings in Workiva by 26.8% in the 4th quarter. Sei Investments Co. now owns 93,354 shares of the software maker’s stock worth $12,182,000 after purchasing an additional 19,727 shares during the period. Barclays PLC raised its holdings in Workiva by 68.2% in the 4th quarter. Barclays PLC now owns 73,883 shares of the software maker’s stock worth $9,640,000 after purchasing an additional 29,958 shares during the period. California State Teachers Retirement System raised its holdings in Workiva by 3.3% in the 4th quarter. California State Teachers Retirement System now owns 56,007 shares of the software maker’s stock worth $7,308,000 after purchasing an additional 1,781 shares during the period. Finally, Legal & General Group Plc raised its holdings in Workiva by 0.9% in the 4th quarter. Legal & General Group Plc now owns 34,156 shares of the software maker’s stock worth $4,457,000 after purchasing an additional 292 shares during the period. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

About Workiva (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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