Polar Asset Management Partners Inc. Has $6.48 Million Stock Position in Workiva Inc. $WK

Key Points

• Polar Asset Management Partners Inc. increased its stake in Workiva Inc. by 60.5% during Q1, acquiring an additional 32,175 shares, bringing their total ownership to approximately $6.48 million.
• Workiva reported a strong earnings performance in its last quarter, with an EPS of $0.19, exceeding analyst expectations of $0.05, and revenue of $215.19 million, up 21.2% year-over-year.
• Institutional investors control 92.21% of Workiva's stock, indicating significant institutional interest in the company.

Polar Asset Management Partners Inc. raised its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 60.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 85,375 shares of the software maker's stock after acquiring an additional 32,175 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.15% of Workiva worth $6,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WK. Vanguard Group Inc. increased its position in shares of Workiva by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,942,371 shares of the software maker's stock valued at $451,085,000 after buying an additional 142,297 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Workiva by 32.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker's stock worth $215,184,000 after acquiring an additional 686,702 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Workiva by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker's stock worth $89,511,000 after acquiring an additional 14,160 shares in the last quarter. Eminence Capital LP bought a new position in Workiva during the first quarter worth about $64,903,000. Finally, Alliancebernstein L.P. lifted its holdings in Workiva by 1,177.5% during the first quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock worth $59,220,000 after acquiring an additional 719,062 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Workiva Trading Up 2.8%

Shares of Workiva stock traded up $2.08 during trading hours on Thursday, reaching $77.70. 141,090 shares of the company's stock were exchanged, compared to its average volume of 700,969. The company has a 50 day moving average of $73.57 and a two-hundred day moving average of $73.39. The stock has a market cap of $4.35 billion, a P/E ratio of -64.77 and a beta of 0.88. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. Workiva's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. As a group, analysts expect that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on WK. Robert W. Baird set a $105.00 target price on Workiva in a report on Wednesday, June 25th. Stifel Nicolaus lifted their target price on Workiva from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday. Wolfe Research lifted their target price on Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday. Stephens reiterated an "overweight" rating and set a $95.00 target price on shares of Workiva in a report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $100.00.

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.