Workiva Inc. (NYSE:WK) Shares Acquired by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Workiva Inc. by 39.7%, acquiring an additional 8,000 shares to reach a total of 28,163 shares valued at approximately $2.14 million.
• Wall Street analysts exhibit a generally positive outlook on Workiva, with a consensus rating of "Moderate Buy" and an average target price of $101.30, despite several recent price adjustments.
• Workiva reported a revenue of $206.28 million for the last quarter, marking a 17.4% year-over-year increase, and surpassed earnings estimates with an EPS of $0.14.

Knights of Columbus Asset Advisors LLC boosted its stake in Workiva Inc. (NYSE:WK - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,163 shares of the software maker's stock after buying an additional 8,000 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.05% of Workiva worth $2,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after buying an additional 360 shares during the period. Bessemer Group Inc. increased its stake 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. Global Wealth Strategies & Associates purchased a new stake in Workiva during the first quarter worth about $53,000. Johnson Financial Group Inc. purchased a new stake in Workiva during the fourth quarter worth about $66,000. Finally, GeoWealth Management LLC increased its stake in Workiva by 3,010.0% during the fourth 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WK. Robert W. Baird set a $105.00 price target on shares of Workiva in a research note on Wednesday, June 25th. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Raymond James Financial cut their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial cut their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, BNP Paribas began coverage on shares of Workiva in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $101.30.

Workiva Price Performance

Shares of Workiva stock traded down $0.38 on Wednesday, reaching $66.94. 129,844 shares of the company were exchanged, compared to its average volume of 650,313. 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 $3.73 billion, a P/E ratio of -57.24 and a beta of 0.86. The stock's 50 day moving average price is $67.65 and its 200-day moving average price is $78.07.

Workiva (NYSE:WK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. During the same period last year, the company earned $0.22 earnings per share. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts predict that Workiva Inc. will post -0.92 earnings per share 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.