AQR Capital Management LLC Acquires 39,371 Shares of Workiva Inc. $WK

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 boosted its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 86.5% in the first quarter, according to its most recent filing 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 period. 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 and other institutional investors have also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ increased its position in shares of 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. increased its position in Workiva by 6.7% during the first quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock worth $292,000 after buying an additional 241 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Workiva by 109.2% in the first 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 last quarter. SVB Wealth LLC acquired a new position in shares of Workiva in the first quarter valued at approximately $26,000. Finally, Farther Finance Advisors LLC grew 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 purchasing an additional 360 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Trading Down 0.9%

Shares of WK traded down $0.71 during mid-day trading on Thursday, reaching $80.68. 642,953 shares of the stock traded hands, compared to its average volume of 741,676. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The firm has a fifty day moving average price of $74.69 and a 200 day moving average price of $73.09. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -67.23 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. The firm's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. 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 anticipate that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Citigroup increased their price target on Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Wolfe Research increased their price target 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 price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Workiva has a consensus rating of "Buy" and a consensus target price of $100.00.

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.