Nordea Investment Management AB Has $61.22 Million Stake in Workiva Inc. $WK

Key Points

• Nordea Investment Management AB reduced its stake in Workiva Inc. by 2.9%, owning 907,861 shares valued at approximately $61.22 million as of the latest SEC filing.
• Analysts have set varying target prices for Workiva’s stock, with a consensus target of $99.27 and the majority rating it as a "Moderate Buy".
• Workiva reported a 21.2% increase in revenue year-over-year in its latest quarterly results, with earnings per share exceeding estimates.

Nordea Investment Management AB trimmed its stake in Workiva Inc. (NYSE:WK - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907,861 shares of the software maker's stock after selling 27,435 shares during the period. Nordea Investment Management AB owned about 1.63% of Workiva worth $61,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in Workiva in the 1st quarter worth $26,000. Farther Finance Advisors LLC grew its position in Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after purchasing an additional 360 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Workiva in the 1st quarter worth $39,000. Harbour Investments Inc. acquired a new stake in Workiva in the 1st quarter worth $39,000. Finally, Bessemer Group Inc. boosted its position in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Capital One Financial set a $100.00 target price on shares of Workiva in a research report on Tuesday, September 30th. Citigroup lifted their target price on shares of Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. BMO Capital Markets lifted their target price on shares of Workiva from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Raymond James Financial decreased their target price on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Finally, Robert W. Baird set a $105.00 target price on shares of Workiva in a research report on Wednesday, June 25th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.27.

Workiva Stock Up 0.6%

NYSE:WK opened at $87.79 on Friday. The firm has a market cap of $4.92 billion, a PE ratio of -73.16 and a beta of 0.87. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The company's 50-day moving average price is $81.28 and its two-hundred day moving average price is $73.17.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, beating 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 quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm 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. On average, research analysts expect that Workiva Inc. will post -0.92 EPS 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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