Madison Asset Management LLC raised its stake in Workiva Inc. (NYSE:WK - Free Report) by 39.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,261 shares of the software maker's stock after purchasing an additional 16,474 shares during the quarter. Madison Asset Management LLC owned about 0.10% of Workiva worth $4,423,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Workiva by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after acquiring an additional 70,820 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Workiva by 10.3% during 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 acquiring an additional 200,220 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Workiva by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker's stock valued at $89,511,000 after acquiring an additional 14,160 shares in the last quarter. First Trust Advisors LP grew its stake in Workiva by 3.0% in the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock worth $90,252,000 after purchasing an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Workiva by 11.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after purchasing an additional 86,207 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on WK shares. BNP Paribas started coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target for the company. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased their price target on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Raymond James Financial cut their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Citigroup reissued a "buy" rating and issued a $105.00 target price (down previously from $108.00) on shares of Workiva in a report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $101.30.
View Our Latest Stock Analysis on WK
Workiva Stock Performance
Shares of WK traded up $1.51 during mid-day trading on Friday, reaching $68.01. 380,048 shares of the company's stock traded hands, compared to its average volume of 657,407. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The stock has a market capitalization of $3.79 billion, a P/E ratio of -58.13 and a beta of 0.86. The business's 50-day moving average price is $67.75 and its 200-day moving average price is $79.07.
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 for the quarter, compared to the consensus estimate of $204.24 million. During the same period in the previous year, the firm earned $0.22 EPS. Workiva's revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts anticipate that Workiva Inc. will post -0.92 EPS for the current year.
About Workiva
(
Free Report)
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.
Featured Articles
Before you consider Workiva, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Workiva wasn't on the list.
While Workiva currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
