Conestoga Capital Advisors LLC Acquires 14,160 Shares of Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC increased its holdings in Workiva Inc. (NYSE:WK - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,179,179 shares of the software maker's stock after buying an additional 14,160 shares during the quarter. Conestoga Capital Advisors LLC owned 2.10% of Workiva worth $89,511,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WK. World Investment Advisors raised its stake in shares of Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after buying an additional 135 shares during the period. Arizona State Retirement System raised its stake in Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after acquiring an additional 224 shares during the period. Twin Tree Management LP purchased a new position in Workiva during the fourth quarter valued at approximately $25,000. Summit Investment Advisors Inc. boosted its position in shares of Workiva by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the software maker's stock worth $579,000 after purchasing an additional 260 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Workiva by 5.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,296 shares of the software maker's stock worth $580,000 after purchasing an additional 267 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Workiva Trading Up 3.2%

NYSE:WK opened at $67.85 on Tuesday. The business's 50-day moving average is $69.03 and its 200 day moving average is $86.51. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The company has a market capitalization of $3.78 billion, a P/E ratio of -73.75 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. During the same period last year, the company earned $0.22 earnings per share. The firm's revenue was up 17.4% on a year-over-year basis. On average, research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WK. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. BNP Paribas initiated coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective for the company. The Goldman Sachs Group decreased their target price on Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James lowered their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.