Goodman Advisory Group LLC Purchases New Stake in Workiva Inc. (NYSE:WK)

Goodman Advisory Group LLC acquired a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,492 shares of the software maker's stock, valued at approximately $2,618,000. Workiva accounts for approximately 1.2% of Goodman Advisory Group LLC's portfolio, making the stock its 21st biggest holding. Goodman Advisory Group LLC owned 0.06% of Workiva at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Workiva during the 4th quarter valued at $59,676,000. Arrowstreet Capital Limited Partnership acquired a new stake in Workiva during the fourth quarter valued at $51,353,000. Point72 Asset Management L.P. acquired a new stake in Workiva during the fourth quarter valued at $32,863,000. T. Rowe Price Investment Management Inc. grew its stake in Workiva by 10.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock valued at $235,209,000 after purchasing an additional 200,220 shares in the last quarter. Finally, Engle Capital Management L.P. acquired a new position in Workiva in the 4th quarter worth about $20,367,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WK has been the subject of several research reports. Truist Financial reduced their price target on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. BNP Paribas started coverage on shares of Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 target price for the company. Raymond James Financial decreased their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus dropped their price target on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Stephens restated an "overweight" rating and set a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Workiva has an average rating of "Moderate Buy" and a consensus target price of $103.80.

Workiva Stock Down 0.0%

NYSE:WK opened at $65.80 on Friday. The company's 50 day moving average is $68.70 and its 200-day moving average is $84.41. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -56.24 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last announced its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. The business's revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. Research analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

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.

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