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

Workiva (NYSE:WK) released its quarterly earnings results on Wednesday. The software maker reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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

Shares of NYSE:WK opened at $91.71 on Friday. The business has a 50 day simple moving average of $78.38 and a two-hundred day simple moving average of $77.14. Workiva has a 1 year low of $65.47 and a 1 year high of $105.00.

Insider Transactions at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Workiva by 2.0% in the second quarter. Principal Financial Group Inc. now owns 6,823 shares of the software maker’s stock valued at $498,000 after purchasing an additional 137 shares during the period. Quarry LP raised its position in Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after purchasing an additional 166 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Workiva by 8.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock worth $171,000 after buying an additional 179 shares during the period. Xponance Inc. grew its position in shares of Workiva by 6.0% during the 2nd quarter. Xponance Inc. now owns 3,195 shares of the software maker’s stock worth $233,000 after buying an additional 182 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Workiva by 3.9% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the software maker’s stock valued at $358,000 after buying an additional 183 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WK. Northland Securities reduced their target price 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 cut Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. BMO Capital Markets upped their price objective on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird lifted their target price on Workiva from $94.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.