Workiva Inc. $WK Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Workiva Inc. by 86.5% during the first quarter, owning about 0.15% of the company with a total value of $6.45 million.
• Workiva reported $0.19 earnings per share for the last quarter, surpassing analyst estimates, and recorded a revenue of $215.19 million, up 21.2% year-over-year.
• Multiple brokerages have set optimistic price targets for Workiva, with an average target of $100.00 and ratings predominantly trending towards buy.

AQR Capital Management LLC raised its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 86.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,900 shares of the software maker's stock after purchasing an additional 39,371 shares during the quarter. AQR Capital Management LLC owned 0.15% of Workiva worth $6,445,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WK. SVB Wealth LLC bought a new position in Workiva in the 1st quarter worth $26,000. Farther Finance Advisors LLC lifted its position in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after acquiring an additional 360 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Workiva in the first quarter worth about $39,000. Harbour Investments Inc. bought a new stake in Workiva during the 1st quarter valued at approximately $39,000. Finally, Bessemer Group Inc. raised its stake in Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after purchasing an additional 296 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WK has been the topic of several recent analyst reports. Wolfe Research lifted their target price on Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Raymond James Financial decreased their target price on Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. 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 target price on shares of Workiva in a research note on Thursday, May 22nd. Finally, Citigroup lifted their target price on Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $100.00.

Workiva Price Performance

Shares of WK stock traded up $0.91 during mid-day trading on Monday, hitting $78.39. The stock had a trading volume of 1,028,908 shares, compared to its average volume of 715,249. The firm has a market capitalization of $4.39 billion, a P/E ratio of -65.32 and a beta of 0.87. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The firm's 50-day moving average is $74.12 and its two-hundred day moving average is $73.03.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.14. The firm had revenue of $215.19 million for the quarter, compared to analysts' expectations of $208.92 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm's revenue for the quarter 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. Analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

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.