Fred Alger Management LLC Invests $8.49 Million in Workiva Inc. $WK

Key Points

• Fred Alger Management LLC acquired 111,870 shares of Workiva Inc., representing a new investment valued at approximately $8.5 million.
• Workiva reported a 21.2% year-over-year increase in revenue for the last quarter, totaling $215.19 million, with earnings per share of $0.19, exceeding estimates.
• Institutional investors hold a substantial 92.21% of Workiva's stock, indicating strong interest and confidence in the company's future prospects.

Fred Alger Management LLC acquired a new stake in Workiva Inc. (NYSE:WK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 111,870 shares of the software maker's stock, valued at approximately $8,492,000. Fred Alger Management LLC owned approximately 0.20% of Workiva as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WK. Eminence Capital LP acquired a new stake in Workiva in the first quarter valued at about $64,903,000. Alliancebernstein L.P. boosted its stake in shares of Workiva by 1,177.5% during the first quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock valued at $59,220,000 after purchasing an additional 719,062 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Workiva by 32.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker's stock valued at $215,184,000 after purchasing an additional 686,702 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Workiva during the fourth quarter valued at about $32,863,000. Finally, LMR Partners LLP acquired a new stake in shares of Workiva during the fourth quarter valued at about $16,151,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WK has been the topic of a number of recent research reports. Robert W. Baird set a $105.00 price target on Workiva in a research note on Wednesday, June 25th. Stifel Nicolaus lifted their price target on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen raised Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Stephens reissued an "overweight" rating and set a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Finally, Wolfe Research lifted their price target on Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Workiva currently has a consensus rating of "Buy" and an average target price of $100.00.

Workiva Stock Performance

Shares of WK traded down $0.89 during mid-day trading on Friday, reaching $77.55. 644,989 shares of the company were exchanged, compared to its average volume of 715,249. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The stock has a market capitalization of $4.34 billion, a PE ratio of -64.62 and a beta of 0.87. The business has a 50 day simple moving average of $73.92 and a two-hundred day simple moving average of $73.09.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The company had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. During the same quarter last year, the business earned $0.16 earnings per share. Workiva's revenue was up 21.2% compared to the same quarter last year. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. On average, analysts predict that Workiva Inc. will post -0.92 EPS for the current year.

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.