Norges Bank Takes $53.38 Million Position in Workiva Inc. $WK

Key Points

• Norges Bank disclosed a new stake in Workiva, buying 618,845 shares worth about $53.38 million and ending the quarter with roughly 1.10% ownership of the company.
• Workiva reported better-than-expected quarterly results, posting $0.77 EPS versus $0.66 expected and revenue of $247.31 million, up 19.9% year over year.
• The company also announced a $250 million share buyback, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $88.50.

Norges Bank bought a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 618,845 shares of the software maker's stock, valued at approximately $53,375,000. Norges Bank owned approximately 1.10% of Workiva at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Leonteq Securities AG bought a new stake in Workiva during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Workiva by 217.9% in the third quarter. EverSource Wealth Advisors LLC now owns 391 shares of the software maker's stock worth $34,000 after purchasing an additional 268 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Workiva by 82.3% in the third quarter. Allworth Financial LP now owns 412 shares of the software maker's stock valued at $35,000 after purchasing an additional 186 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Workiva by 297.1% during the fourth quarter. IFP Advisors Inc now owns 413 shares of the software maker's stock valued at $36,000 after buying an additional 309 shares during the last quarter. Finally, First Horizon Corp boosted its position in shares of Workiva by 112.1% during the fourth quarter. First Horizon Corp now owns 509 shares of the software maker's stock valued at $44,000 after buying an additional 269 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Workiva Price Performance

Shares of Workiva stock opened at $49.14 on Monday. The firm has a market cap of $2.76 billion, a PE ratio of 213.66 and a beta of 0.51. Workiva Inc. has a 1 year low of $43.34 and a 1 year high of $97.10. The stock has a fifty day moving average price of $53.13 and a 200-day moving average price of $68.78.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. Workiva had a net margin of 1.53% and a negative return on equity of 68.43%. The company had revenue of $247.31 million during the quarter, compared to analyst estimates of $245.17 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. Workiva has set its FY 2026 guidance at 2.850-2.950 EPS and its Q2 2026 guidance at 0.620-0.650 EPS. As a group, equities analysts anticipate that Workiva Inc. will post 0.92 EPS for the current fiscal year.

Workiva announced that its board has initiated a share buyback program on Monday, February 16th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the software maker to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $49.69, for a total transaction of $49,690.00. Following the completion of the sale, the director owned 34,802 shares in the company, valued at $1,729,311.38. This trade represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WK has been the subject of a number of analyst reports. Stephens reissued an "overweight" rating and issued a $68.00 price target on shares of Workiva in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Workiva from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Citigroup restated a "buy" rating on shares of Workiva in a report on Monday, February 23rd. Zacks Research raised shares of Workiva from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $85.00 price objective on shares of Workiva in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.50.

Workiva Company Profile

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.

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