Workiva (NYSE:WK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Workiva LLC offers a cloud-based and mobile-enabled platform for enterprises to collect, manage, report and analyze critical business data in real time. The company provides solutions for compliance, risk, sustainability and management reporting as well as enterprise risk management. It serves the manufacturing and materials, energy and utilities, financial services, healthcare, media and entertainment, real estate, retail, consumer goods, services, transportation and technology and telecom industries. Workiva LLC is headquartered in Ames, Iowa. “

Other analysts have also issued research reports about the company. SunTrust Banks increased their target price on Workiva to $39.00 and gave the company a “positive” rating in a report on Wednesday, August 29th. They noted that the move was a valuation call. Stifel Nicolaus upped their price target on shares of Workiva from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. Morgan Stanley downgraded shares of Workiva from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $20.00 to $28.00 in a research note on Tuesday, September 18th. Robert W. Baird raised shares of Workiva from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Tuesday, September 25th. Finally, Northland Securities upped their price target on shares of Workiva from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $36.50.

Shares of WK traded up $0.59 during mid-day trading on Friday, reaching $34.43. The company’s stock had a trading volume of 147,856 shares, compared to its average volume of 218,337. The firm has a market capitalization of $1.71 billion, a P/E ratio of -32.18 and a beta of 0.87. Workiva has a 1 year low of $20.50 and a 1 year high of $40.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of -1.01.

Workiva (NYSE:WK) last released its earnings results on Tuesday, August 7th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.12. The business had revenue of $59.13 million during the quarter, compared to analysts’ expectations of $56.08 million. On average, analysts expect that Workiva will post -1.15 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its position in Workiva by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 119,680 shares of the software maker’s stock worth $2,837,000 after buying an additional 6,101 shares during the last quarter. Northern Trust Corp increased its position in Workiva by 41.2% during the first quarter. Northern Trust Corp now owns 390,270 shares of the software maker’s stock worth $9,250,000 after buying an additional 113,822 shares during the last quarter. BlackRock Inc. increased its position in Workiva by 1.0% during the first quarter. BlackRock Inc. now owns 1,500,302 shares of the software maker’s stock worth $35,556,000 after buying an additional 15,455 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Workiva during the first quarter worth $113,000. Finally, Russell Investments Group Ltd. increased its position in Workiva by 114.3% during the first quarter. Russell Investments Group Ltd. now owns 7,500 shares of the software maker’s stock worth $178,000 after buying an additional 4,000 shares during the last quarter. 40.73% of the stock is currently owned by institutional investors and hedge funds.

Workiva Company Profile

Workiva Inc provides cloud solutions for the finance and accounting, audit and internal controls, risk and compliance, and performance and management reporting markets in the United States and internationally. The company provides Wdesk, a platform with proprietary word processing, spreadsheet, and presentation applications to collect, link, report, and analyze the business data, as well as to create, review, and publish data-linked documents and reports.

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