$68.96 Million in Sales Expected for Workiva Inc (NYSE:WK) This Quarter

Brokerages forecast that Workiva Inc (NYSE:WK) will report sales of $68.96 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Workiva’s earnings. The lowest sales estimate is $68.90 million and the highest is $69.03 million. Workiva posted sales of $59.13 million in the same quarter last year, which suggests a positive year over year growth rate of 16.6%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, August 6th.

On average, 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 fiscal year, analysts forecast that the business will report sales of $330.90 million, with estimates ranging from $325.30 million to $337.81 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Workiva.

Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. The firm had revenue of $69.96 million during the quarter, compared to analyst estimates of $69.11 million. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share.

A number of equities analysts have weighed in on WK shares. SunTrust Banks boosted their price objective on Workiva to $58.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research raised Workiva from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Friday, July 5th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Workiva has an average rating of “Buy” and a consensus target price of $45.67.

Shares of NYSE:WK traded up $0.71 during trading on Thursday, reaching $58.20. The stock had a trading volume of 172,398 shares, compared to its average volume of 328,551. The stock has a fifty day moving average of $58.22. The company has a market cap of $2.63 billion, a PE ratio of -62.58 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 9.78. Workiva has a 1-year low of $25.10 and a 1-year high of $61.76.

In other Workiva news, major shareholder Matthew M. Rizai sold 66,585 shares of Workiva stock in a transaction on Friday, May 17th. The stock was sold at an average price of $53.00, for a total value of $3,529,005.00. Following the sale, the insider now owns 260,011 shares in the company, valued at $13,780,583. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff D. Trom sold 20,000 shares of Workiva stock in a transaction on Monday, May 20th. The shares were sold at an average price of $53.38, for a total value of $1,067,600.00. Following the completion of the sale, the vice president now owns 255,905 shares in the company, valued at approximately $13,660,208.90. The disclosure for this sale can be found here. Insiders have sold 201,585 shares of company stock worth $11,197,355 in the last three months. 18.46% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. raised its position in Workiva by 36.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 281,597 shares of the software maker’s stock valued at $14,277,000 after purchasing an additional 75,790 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Workiva in the first quarter valued at $5,101,000. We Are One Seven LLC raised its position in Workiva by 96.2% in the first quarter. We Are One Seven LLC now owns 6,880 shares of the software maker’s stock valued at $348,000 after purchasing an additional 3,374 shares during the period. Sigma Planning Corp purchased a new stake in Workiva in the first quarter valued at $302,000. Finally, Arabesque Asset Management Ltd raised its position in Workiva by 306.6% in the first quarter. Arabesque Asset Management Ltd now owns 59,777 shares of the software maker’s stock valued at $3,031,000 after purchasing an additional 45,077 shares during the period. Institutional investors own 51.43% 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.

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