Zacks: Analysts Anticipate Workiva Inc (WK) Will Post Quarterly Sales of $68.96 Million

Equities analysts forecast that Workiva Inc (NYSE:WK) will post $68.96 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Workiva’s earnings, with estimates ranging from $68.90 million to $69.03 million. Workiva posted sales of $59.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.6%. The business is scheduled to issue its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Workiva will report full-year sales of $285.32 million for the current year, with estimates ranging from $285.00 million to $286.00 million. For the next year, analysts forecast that the company will report sales of $330.90 million, with estimates ranging from $325.30 million to $337.81 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Workiva.

Workiva (NYSE:WK) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. The company had revenue of $69.96 million for the quarter, compared to analysts’ expectations of $69.11 million. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share.

Several equities analysts have issued reports on WK shares. SunTrust Banks increased their price objective on shares of Workiva to $58.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Zacks Investment Research raised shares of Workiva from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Saturday, April 27th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.17.

In other news, VP Jeff D. Trom sold 20,000 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $44.16, for a total value of $883,200.00. Following the completion of the sale, the vice president now directly owns 315,683 shares in the company, valued at $13,940,561.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Matthew M. Rizai sold 66,585 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $53.00, for a total transaction of $3,529,005.00. Following the completion of the sale, the insider now owns 260,011 shares of the company’s stock, valued at $13,780,583. The disclosure for this sale can be found here. Insiders sold 256,585 shares of company stock valued at $12,937,905 over the last quarter. Company insiders own 18.46% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of WK. Bank of New York Mellon Corp raised its position in shares of Workiva by 21.9% in the third quarter. Bank of New York Mellon Corp now owns 127,078 shares of the software maker’s stock valued at $5,020,000 after buying an additional 22,788 shares during the last quarter. AQR Capital Management LLC increased its position in Workiva by 150.6% during the third quarter. AQR Capital Management LLC now owns 43,850 shares of the software maker’s stock worth $1,732,000 after purchasing an additional 26,354 shares during the last quarter. Teachers Advisors LLC increased its position in Workiva by 19.3% during the third quarter. Teachers Advisors LLC now owns 126,112 shares of the software maker’s stock worth $4,981,000 after purchasing an additional 20,368 shares during the last quarter. Morgan Stanley increased its position in Workiva by 6.4% during the third quarter. Morgan Stanley now owns 711,783 shares of the software maker’s stock worth $28,115,000 after purchasing an additional 42,766 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Workiva by 9.3% during the third quarter. Vanguard Group Inc. now owns 1,950,170 shares of the software maker’s stock worth $77,031,000 after purchasing an additional 166,051 shares during the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.

WK traded up $1.86 during midday trading on Friday, hitting $54.86. 383,275 shares of the company traded hands, compared to its average volume of 317,375. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 9.78. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -58.99 and a beta of 1.12. Workiva has a 52-week low of $23.95 and a 52-week high of $56.08.

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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