68,759 Shares in Workiva Inc. (NYSE:WK) Bought 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 stake in Workiva Inc. (NYSE:WK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC.

Several other large investors have also made changes to their positions in WK. World Investment Advisors raised its holdings in Workiva by 2.7% during the 4th quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after purchasing an additional 135 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Workiva by 8.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker's stock valued at $214,000 after acquiring an additional 225 shares during the last quarter. Xponance Inc. grew its holdings in Workiva by 6.7% during the 1st quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock worth $292,000 after acquiring an additional 241 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Workiva by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the software maker's stock valued at $579,000 after purchasing an additional 260 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Workiva Stock Performance

Shares of Workiva stock traded down $2.41 during trading hours on Thursday, reaching $64.09. The company's stock had a trading volume of 312,462 shares, compared to its average volume of 650,834. The company has a market capitalization of $3.57 billion, a P/E ratio of -54.78 and a beta of 0.86. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The stock's fifty day simple moving average is $67.54 and its two-hundred day simple moving average is $77.92.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to the consensus estimate of $204.24 million. Workiva's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

WK has been the subject of several research analyst reports. Robert W. Baird set a $105.00 price objective on Workiva in a research report on Wednesday, June 25th. The Goldman Sachs Group lowered their target price on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Citigroup reissued a "buy" rating and issued a $105.00 price target (down previously from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. BNP Paribas assumed coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective for the company. Finally, Raymond James Financial dropped their target price on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.30.

Workiva 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.