28,371 Shares in Workiva Inc. $WK Purchased by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. has acquired a new position in Workiva Inc., purchasing 28,371 shares valued at approximately $2.15 million.
• Institutional investors now own 92.21% of Workiva, with significant recent investments from firms such as Eminence Capital LP and AllianceBernstein L.P.
• Analysts maintain a consensus "Buy" rating for Workiva, with a current price target averaging $99.22.

EFG Asset Management North America Corp. purchased a new position in shares of Workiva Inc. (NYSE:WK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,371 shares of the software maker's stock, valued at approximately $2,154,000. EFG Asset Management North America Corp. owned 0.05% of Workiva at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Eminence Capital LP acquired a new position in Workiva during the 1st quarter valued at about $64,903,000. Alliancebernstein L.P. raised its position in shares of Workiva by 1,177.5% during the 1st quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock worth $59,220,000 after buying an additional 719,062 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Workiva by 32.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker's stock worth $215,184,000 after purchasing an additional 686,702 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Workiva in the 4th quarter worth approximately $32,863,000. Finally, Engle Capital Management L.P. purchased a new position in shares of Workiva in the fourth quarter worth approximately $20,367,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WK shares. Stephens reaffirmed an "overweight" rating and set a $95.00 price objective on shares of Workiva in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup restated a "buy" rating and issued a $105.00 price objective (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Stifel Nicolaus cut their target price on shares of Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Raymond James Financial lowered their target price on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $99.22.

Workiva Stock Down 1.8%

Shares of WK traded down $1.37 during midday trading on Wednesday, reaching $75.82. 243,125 shares of the stock were exchanged, compared to its average volume of 700,799. The company has a market cap of $4.25 billion, a P/E ratio of -63.18 and a beta of 0.87. The stock's 50 day simple moving average is $73.42 and its 200 day simple moving average is $73.37. 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 posted its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. During the same period last year, the firm earned $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. As a group, analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

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.