GSA Capital Partners LLP Purchases 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 purchased a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,557 shares of the software maker's stock, valued at approximately $877,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WK. LPL Financial LLC raised its holdings in Workiva by 3.8% in the 4th quarter. LPL Financial LLC now owns 14,534 shares of the software maker's stock valued at $1,591,000 after buying an additional 527 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Workiva by 21.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390 shares of the software maker's stock worth $266,000 after purchasing an additional 423 shares during the last quarter. Norges Bank bought a new position in Workiva during the 4th quarter worth approximately $59,676,000. Pictet Asset Management Holding SA raised its holdings in Workiva by 12.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,187 shares of the software maker's stock worth $787,000 after purchasing an additional 785 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Workiva by 12.2% during the 4th quarter. California Public Employees Retirement System now owns 195,859 shares of the software maker's stock worth $21,447,000 after purchasing an additional 21,361 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup reaffirmed a "buy" rating and set a $105.00 price objective (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 research note on Saturday. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird set a $105.00 target price on shares of Workiva in a research note on Wednesday, June 25th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $99.22.

Workiva Price Performance

NYSE:WK traded down $2.60 during midday trading on Tuesday, hitting $80.24. The company's stock had a trading volume of 401,138 shares, compared to its average volume of 680,579. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The firm has a market cap of $4.47 billion, a P/E ratio of -66.86 and a beta of 0.86. The firm's 50 day moving average is $68.12 and its 200-day moving average is $76.74.

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

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.