68,759 Shares in Workiva Inc. (NYSE:WK) Purchased by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC recently acquired 68,759 shares of Workiva Inc. (NYSE:WK), valued at approximately $5.2 million, as part of their first quarter investment activities.
• Institutional ownership in Workiva is significant, with 92.21% of the company held by institutional investors and hedge funds, indicating strong institutional interest in the stock.
• Workiva's stock currently holds an average rating of "Moderate Buy" from analysts, with a revised target price of $101.30, reflecting varying opinions on the company's future performance.

Summit Creek Advisors LLC bought a new position in shares of Workiva Inc. (NYSE:WK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 68,759 shares of the software maker's stock, valued at approximately $5,219,000. Summit Creek Advisors LLC owned approximately 0.12% of Workiva as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Workiva by 13.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,510 shares of the software maker's stock valued at $822,000 after purchasing an additional 896 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Workiva by 29.8% during the fourth quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock valued at $840,000 after purchasing an additional 1,761 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Workiva during the fourth quarter valued at approximately $1,117,000. LPL Financial LLC boosted its holdings in Workiva by 3.8% during the fourth quarter. LPL Financial LLC now owns 14,534 shares of the software maker's stock valued at $1,591,000 after purchasing an additional 527 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Workiva by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after purchasing an additional 70,820 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on WK. Citigroup reaffirmed a "buy" rating and set a $105.00 price objective (down from $108.00) on shares of Workiva in a report on Wednesday, July 16th. The Goldman Sachs Group dropped their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. BNP Paribas assumed coverage on shares of Workiva in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price for the company. Stifel Nicolaus dropped their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Workiva has an average rating of "Moderate Buy" and an average price target of $101.30.

Workiva Price Performance

Shares of NYSE:WK opened at $68.01 on Monday. The company's 50 day simple moving average is $67.68 and its 200 day simple moving average is $78.33. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -58.13 and a beta of 0.86. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. The business's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $0.22 earnings per share. As a group, analysts anticipate that Workiva Inc. will post -0.92 EPS for the current fiscal 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.

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