Madison Asset Management LLC Increases Stock Holdings in Workiva Inc. (NYSE:WK)

Madison Asset Management LLC lifted its position in Workiva Inc. (NYSE:WK - Free Report) by 39.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Legato Capital Management LLC lifted its position in Workiva by 144.2% in the first quarter. Legato Capital Management LLC now owns 5,041 shares of the software maker's stock valued at $383,000 after buying an additional 2,977 shares during the last quarter. CWM LLC lifted its position in Workiva by 27.4% in the first quarter. CWM LLC now owns 8,166 shares of the software maker's stock valued at $620,000 after buying an additional 1,754 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Workiva by 8.9% in the first quarter. Mutual of America Capital Management LLC now owns 77,284 shares of the software maker's stock valued at $5,867,000 after buying an additional 6,344 shares during the last quarter. Xponance Inc. lifted its position in Workiva by 6.7% in the first quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock valued at $292,000 after buying an additional 241 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Workiva by 13.9% in the first quarter. Teacher Retirement System of Texas now owns 8,734 shares of the software maker's stock valued at $663,000 after buying an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WK. Robert W. Baird set a $105.00 target price on shares of Workiva in a research report on Wednesday, June 25th. Stifel Nicolaus cut their price target on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Stephens reiterated an "overweight" rating and set a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. The Goldman Sachs Group cut their price target on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup reiterated a "buy" rating and set a $105.00 price target (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.30.

Workiva Price Performance

Shares of WK stock traded up $1.51 during trading hours on Friday, reaching $68.01. 380,048 shares of the stock were exchanged, compared to its average volume of 510,160. The business's fifty day moving average is $67.68 and its two-hundred day moving average is $78.56. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The firm has a market capitalization of $3.79 billion, a P/E ratio of -58.13 and a beta of 0.86.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. The firm's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal 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.