Eminence Capital LP Buys New Position in Workiva Inc. $WK

Key Points

• Eminence Capital LP has acquired 855,000 shares of Workiva Inc. valued at approximately $64.9 million, representing a 1.52% ownership stake in the company.
• Workiva reported Q2 earnings of $0.19 EPS, surpassing expectations and showing a 21.2% year-over-year revenue increase.
• Wall Street analysts have given Workiva an average rating of "Buy" with a consensus price target of $99.22.

Eminence Capital LP acquired a new position in Workiva Inc. (NYSE:WK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 855,000 shares of the software maker's stock, valued at approximately $64,903,000. Eminence Capital LP owned about 1.52% of Workiva as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WK. SVB Wealth LLC purchased a new stake in Workiva in the 1st quarter worth about $26,000. Farther Finance Advisors LLC grew its holdings in Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after buying an additional 360 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Workiva during the 1st quarter valued at about $39,000. Harbour Investments Inc. purchased a new position in Workiva during the 1st quarter valued at about $39,000. Finally, Bessemer Group Inc. grew its holdings 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 buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Trading Up 5.0%

WK stock traded up $3.81 during midday trading on Friday, hitting $79.86. The company had a trading volume of 855,399 shares, compared to its average volume of 748,913. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The stock's 50 day moving average price is $72.98 and its 200 day moving average price is $73.46. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -66.55 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business'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 predict that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WK has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, August 1st. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. Robert W. Baird set a $105.00 price target on Workiva in a research report on Wednesday, June 25th. Raymond James Financial dropped their price target on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Finally, Citigroup reiterated a "buy" rating and set a $105.00 price target (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $99.22.

Workiva Company 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.