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) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06), reports. The company had revenue of $185.62 million for the quarter, compared to the consensus estimate of $182.50 million.

Workiva Stock Performance

NYSE WK opened at $94.76 on Friday. The company has a market capitalization of $5.23 billion, a P/E ratio of -103.00 and a beta of 1.05. The stock has a 50 day moving average price of $78.71 and a 200-day moving average price of $77.25. Workiva has a one year low of $65.47 and a one year high of $105.00.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workiva

Several institutional investors have recently made changes to their positions in WK. Vanguard Group Inc. grew its stake in Workiva by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,185,929 shares of the software maker’s stock valued at $439,767,000 after purchasing an additional 181,520 shares during the last quarter. Champlain Investment Partners LLC grew its stake in Workiva by 58.2% in the first quarter. Champlain Investment Partners LLC now owns 1,340,114 shares of the software maker’s stock valued at $113,642,000 after purchasing an additional 492,945 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Workiva by 2.8% in the second quarter. Conestoga Capital Advisors LLC now owns 1,188,445 shares of the software maker’s stock valued at $86,745,000 after purchasing an additional 32,230 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Workiva by 4.3% in the third quarter. TimesSquare Capital Management LLC now owns 467,769 shares of the software maker’s stock valued at $37,010,000 after purchasing an additional 19,095 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Workiva by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 392,951 shares of the software maker’s stock valued at $28,682,000 after purchasing an additional 49,222 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Company Profile

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.