Workiva (NYSE:WK) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Workiva (NYSE:WK) announced its quarterly earnings data on Wednesday. The software maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06), reports. The business had revenue of $185.62 million for the quarter, compared to analyst estimates of $182.50 million.

Workiva Stock Up 4.7 %

Shares of WK stock opened at $91.71 on Friday. Workiva has a 12 month low of $65.47 and a 12 month high of $105.00. The company has a 50 day simple moving average of $78.38 and a two-hundred day simple moving average of $77.14.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares of the company’s stock, valued at approximately $3,721,570.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Workiva

A number of institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Workiva during the 3rd quarter valued at approximately $28,000. Quarry LP increased its holdings in shares of Workiva by 57.8% in the second quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Workiva in the first quarter worth about $40,000. Fidelis Capital Partners LLC purchased a new stake in shares of Workiva in the first quarter worth about $45,000. Finally, Point72 Hong Kong Ltd bought a new position in Workiva during the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

WK has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday. Northland Securities cut their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets lifted their price target on Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Robert W. Baird lifted their target price on shares of Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Workiva presently has an average rating of “Moderate Buy” and an average price target of $103.20.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.