Intech Investment Management LLC Buys 8,866 Shares of Workiva Inc. $WK

Key Points

• Intech Investment Management LLC increased its stake in Workiva Inc. by 46.1%, acquiring an additional 8,866 shares during the first quarter, bringing their total ownership to approximately 0.05% of the company, valued at $2,134,000.
• Several hedge funds have recently changed their positions in Workiva, with 92.21% of the stock now owned by institutional investors, indicating strong institutional interest.
• Workiva's stock has received multiple buy ratings from analysts, with an average target price of $100.00, and the company reported a 21.2% year-over-year revenue increase in its last quarterly earnings.

Intech Investment Management LLC raised its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 46.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,118 shares of the software maker's stock after acquiring an additional 8,866 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Workiva worth $2,134,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in shares of Workiva during the first quarter valued at $26,000. Farther Finance Advisors LLC lifted its holdings in shares of Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after acquiring an additional 360 shares during the period. Bayforest Capital Ltd bought a new position in shares of Workiva during the first quarter valued at $39,000. Harbour Investments Inc. bought a new position in shares of Workiva during the first quarter valued at $39,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares during the period. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WK has been the subject of a number of research reports. Raymond James Financial lowered their target price on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Wolfe Research raised their target price on Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Stephens restated an "overweight" rating and issued a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Finally, Citigroup raised their target price on Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, Workiva currently has an average rating of "Buy" and an average target price of $100.00.

Workiva Stock Up 1.2%

Shares of WK stock opened at $78.39 on Tuesday. The stock has a 50-day moving average price of $74.12 and a 200 day moving average price of $73.03. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -65.32 and a beta of 0.88. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $208.92 million. Workiva'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 business earned $0.16 earnings per share. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. Sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

About Workiva

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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