Allianz Asset Management GmbH Sells 3,425 Shares of Workiva Inc. $WK

Key Points

• Allianz Asset Management GmbH has reduced its stake in Workiva Inc. by 7.9%, selling 3,425 shares and owning about 39,955 shares worth approximately $2.7 million at the end of the last reporting period.
• Analyst upgrades have increased the price targets for Workiva Inc., with Citigroup raising its target from $105 to $110, resulting in a consensus rating of "Moderate Buy" with an average target price of $99.27.
• Workiva reported strong quarterly earnings with an EPS of $0.19, exceeding analysts' expectations, and a revenue increase of 21.2% compared to the previous year.

Allianz Asset Management GmbH decreased its position in Workiva Inc. (NYSE:WK - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,955 shares of the software maker's stock after selling 3,425 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Workiva worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Workiva by 13.2% in the 2nd quarter. CWM LLC now owns 9,243 shares of the software maker's stock worth $633,000 after acquiring an additional 1,077 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of Workiva by 8.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 10,300 shares of the software maker's stock worth $705,000 after acquiring an additional 800 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Workiva in the 2nd quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Workiva by 9.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,972 shares of the software maker's stock worth $477,000 after buying an additional 585 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Workiva by 20.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 16,021 shares of the software maker's stock worth $1,097,000 after buying an additional 2,752 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WK. BMO Capital Markets boosted their price target on shares of Workiva from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Wolfe Research boosted their price target on shares of Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Citigroup boosted their price target on shares of Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Workiva in a report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Workiva from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Workiva currently has a consensus rating of "Moderate Buy" and an average target price of $99.27.

Workiva Trading Down 0.5%

Shares of Workiva stock opened at $89.22 on Friday. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -74.35 and a beta of 0.87. The company's 50-day moving average price is $82.88 and its 200-day moving average price is $73.93.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company's quarterly 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, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share 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.

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