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

Equities analysts expect Workiva Inc (NYSE:WK) to report sales of $72.32 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Workiva’s earnings, with estimates ranging from $72.02 million to $72.50 million. Workiva posted sales of $60.87 million during the same quarter last year, which suggests a positive year over year growth rate of 18.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that Workiva will report full year sales of $290.79 million for the current year, with estimates ranging from $290.51 million to $291.00 million. For the next year, analysts expect that the company will post sales of $338.19 million, with estimates ranging from $332.54 million to $342.98 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Workiva.

Workiva (NYSE:WK) last issued its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). The business had revenue of $73.48 million for the quarter, compared to the consensus estimate of $68.96 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s revenue was up 24.3% compared to the same quarter last year.



Several analysts have recently weighed in on WK shares. Zacks Investment Research raised shares of Workiva from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Friday, July 5th. ValuEngine downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Finally, SunTrust Banks lifted their target price on shares of Workiva to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.83.

Shares of NYSE:WK traded up $0.19 during midday trading on Friday, hitting $49.94. The stock had a trading volume of 505,743 shares, compared to its average volume of 366,921. The company has a market capitalization of $2.28 billion, a PE ratio of -53.70 and a beta of 0.96. The stock has a 50 day moving average price of $57.93 and a two-hundred day moving average price of $52.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.80. Workiva has a 1 year low of $30.90 and a 1 year high of $64.11.

In related news, VP Jeff D. Trom sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $57.90, for a total value of $1,158,000.00. Following the completion of the sale, the vice president now owns 235,582 shares in the company, valued at $13,640,197.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brigid A. Bonner acquired 500 shares of Workiva stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $53.00 per share, with a total value of $26,500.00. Following the purchase, the director now directly owns 6,426 shares of the company’s stock, valued at $340,578. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 782,038 shares of company stock worth $44,310,138. Insiders own 18.46% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its position in Workiva by 238.1% during the fourth quarter. Advisor Group Inc. now owns 710 shares of the software maker’s stock worth $26,000 after acquiring an additional 500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Workiva by 541.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 462 shares of the software maker’s stock valued at $27,000 after buying an additional 390 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Workiva by 57.1% in the fourth quarter. Macquarie Group Ltd. now owns 1,100 shares of the software maker’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Workiva in the second quarter valued at approximately $52,000. Finally, Advisory Services Network LLC acquired a new position in shares of Workiva in the first quarter valued at approximately $89,000. Hedge funds and other institutional investors own 56.23% 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.

Featured Story: Marijuana Stocks

Get a free copy of the Zacks research report on Workiva (WK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Workiva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workiva and related companies with MarketBeat.com's FREE daily email newsletter.