Workiva Inc (NYSE:WK) Expected to Post Quarterly Sales of $72.32 Million

Equities research analysts forecast that Workiva Inc (NYSE:WK) will report sales of $72.32 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Workiva’s earnings, with the highest sales estimate coming in at $72.50 million and the lowest estimate coming in at $72.02 million. Workiva reported sales of $60.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Workiva will report full year sales of $290.79 million for the current financial year, with estimates ranging from $290.51 million to $291.00 million. For the next year, analysts forecast that the firm will report sales of $338.19 million, with estimates ranging from $332.54 million to $342.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Workiva.

Workiva (NYSE:WK) last posted its earnings results on Tuesday, August 6th. The software maker reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). The business had revenue of $73.48 million during the quarter, compared to analyst estimates of $68.96 million. During the same period last year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis.

Several analysts have issued reports on WK shares. Morgan Stanley cut their price target on Workiva from $46.00 to $42.00 and set an “underweight” rating for the company in a report on Wednesday, October 16th. ValuEngine raised Workiva from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Zacks Investment Research reissued a “hold” rating on shares of Workiva in a report on Saturday. Finally, SunTrust Banks boosted their price target on Workiva to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th.

Shares of WK traded up $0.56 during trading hours on Thursday, hitting $41.23. The stock had a trading volume of 209,311 shares, compared to its average volume of 274,200. The company has a debt-to-equity ratio of 3.80, a current ratio of 1.00 and a quick ratio of 1.00. Workiva has a 12 month low of $31.83 and a 12 month high of $64.11. The firm has a market capitalization of $1.88 billion, a PE ratio of -44.33 and a beta of 1.00. The stock has a fifty day moving average price of $43.57 and a 200 day moving average price of $51.95.

In related news, CEO Martin J. Vanderploeg sold 575,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $56.25, for a total value of $32,343,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Jeff D. Trom sold 450,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $56.25, for a total value of $25,312,500.00. Following the completion of the sale, the insider now owns 234,775 shares in the company, valued at $13,206,093.75. The disclosure for this sale can be found here. Insiders sold 1,142,038 shares of company stock worth $64,386,888 over the last quarter. 18.46% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its position in Workiva by 2.6% during the third quarter. Rhumbline Advisers now owns 47,630 shares of the software maker’s stock valued at $2,088,000 after purchasing an additional 1,186 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Workiva during the third quarter valued at approximately $1,657,000. FTB Advisors Inc. grew its stake in shares of Workiva by 130.4% during the third quarter. FTB Advisors Inc. now owns 721 shares of the software maker’s stock valued at $31,000 after buying an additional 408 shares during the last quarter. CWM LLC bought a new position in shares of Workiva during the third quarter valued at approximately $239,000. Finally, Strs Ohio grew its stake in shares of Workiva by 13.4% during the third quarter. Strs Ohio now owns 21,100 shares of the software maker’s stock valued at $924,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 56.29% of the company’s stock.

About Workiva

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

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