Conestoga Capital Advisors LLC Has $89.51 Million Stock Position in Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC lifted its stake in Workiva Inc. (NYSE:WK - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,179,179 shares of the software maker's stock after acquiring an additional 14,160 shares during the period. Conestoga Capital Advisors LLC owned 2.10% of Workiva worth $89,511,000 at the end of the most recent reporting period.

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

Workiva Stock Performance

Workiva stock traded down $1.16 on Friday, reaching $65.44. The company's stock had a trading volume of 728,018 shares, compared to its average volume of 688,047. The business's fifty day moving average price is $68.92 and its 200 day moving average price is $86.02. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -55.93 and a beta of 0.88. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. During the same quarter last year, the company earned $0.22 EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on WK. Truist Financial reduced their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Raymond James Financial dropped their target price on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Stephens restated an "overweight" rating and set a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.30.

About Workiva

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.