Fox Run Management L.L.C. Purchases New Position in Workiva Inc. (NYSE:WK)

Key Points

• Fox Run Management L.L.C. acquired a new stake in Workiva Inc. by purchasing 9,198 shares valued at approximately $698,000 during the first quarter.
• Workiva reported a 21.2% year-over-year revenue increase with earnings of $0.19 per share, surpassing analysts’ expectations.
• Several brokerages have adjusted their price targets for Workiva, with an average consensus price target of $99.22, reflecting a generally robust outlook for the stock.

Fox Run Management L.L.C. purchased a new stake in Workiva Inc. (NYSE:WK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,198 shares of the software maker's stock, valued at approximately $698,000.

Several other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after purchasing an additional 360 shares during the period. Bayforest Capital Ltd bought a new stake in Workiva during the first quarter worth approximately $39,000. Harbour Investments Inc. bought a new stake in Workiva during the first quarter worth approximately $39,000. Bessemer Group Inc. boosted its position in Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after purchasing an additional 296 shares during the period. Finally, Global Wealth Strategies & Associates bought a new stake in Workiva during the first quarter worth approximately $53,000. Institutional investors own 92.21% of the company's stock.

Workiva Trading Up 2.6%

Shares of NYSE WK opened at $74.78 on Friday. The business has a fifty day simple moving average of $69.40 and a 200 day simple moving average of $75.16. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -62.32 and a beta of 0.86. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83.

Workiva (NYSE:WK - Get Free Report) last issued its 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 firm had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, research analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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