GSA Capital Partners LLP Acquires Shares of 11,557 Workiva Inc. (NYSE:WK)

Key Points

• GSA Capital Partners LLP has acquired a new stake of 11,557 shares in Workiva Inc., valued at approximately $877,000, according to their recent SEC filing.
• Workiva reported a quarterly earnings per share of $0.19, significantly surpassing the consensus estimate of $0.05, alongside a revenue increase of 21.2% year-over-year.
• The stock currently has a consensus rating of "Buy" and an average price target of $98.80 from analysts, indicating positive sentiment toward the company's growth prospects.

GSA Capital Partners LLP acquired a new stake in Workiva Inc. (NYSE:WK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,557 shares of the software maker's stock, valued at approximately $877,000.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after buying an additional 360 shares during the period. Bessemer Group Inc. increased its holdings in Workiva by 109.2% during the 1st 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. Global Wealth Strategies & Associates purchased a new position in Workiva during the 1st quarter worth $53,000. Johnson Financial Group Inc. purchased a new position in Workiva during the 4th quarter worth $66,000. Finally, GeoWealth Management LLC increased its holdings in Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock worth $68,000 after purchasing an additional 602 shares during the period. 92.21% of the stock is owned by institutional investors.

Workiva Stock Up 32.3%

Shares of Workiva stock traded up $20.63 during trading on Friday, reaching $84.46. The company's stock had a trading volume of 3,792,338 shares, compared to its average volume of 517,763. The company has a 50-day simple moving average of $67.81 and a two-hundred day simple moving average of $77.20. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -70.38 and a beta of 0.86.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million for the quarter, compared to analyst estimates of $208.92 million. During the same period in the prior year, the firm posted $0.16 EPS. The business's revenue was up 21.2% compared to the same quarter last year. As a group, analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on WK. Stephens restated an "overweight" rating and set a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd. Truist Financial reduced their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, April 7th. BNP Paribas began coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective on the stock. Raymond James Financial reduced their price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday. Finally, The Goldman Sachs Group dropped their target price on Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $98.80.

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.