Riverbridge Partners LLC Sells 160,583 Shares of Workiva Inc. $WK

Key Points

• Riverbridge Partners LLC has decreased its stake in Workiva Inc. by 10.5%, selling 160,583 shares, and now holds approximately 1.5% of the company's stock.
• Workiva reported earnings of $0.19 EPS for the last quarter, exceeding estimates, with a revenue increase of 21.2% year-over-year.
• Analysts maintain a consensus rating of "Buy" for Workiva, with price targets ranging from $95 to $110, indicating expected growth.

Riverbridge Partners LLC decreased its position in Workiva Inc. (NYSE:WK - Free Report) by 10.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,375,867 shares of the software maker's stock after selling 160,583 shares during the period. Workiva comprises approximately 1.5% of Riverbridge Partners LLC's portfolio, making the stock its 23rd biggest holding. Riverbridge Partners LLC owned about 2.47% of Workiva worth $94,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in shares of Workiva in the first quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its stake in Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares during the period. Harbour Investments Inc. purchased a new stake in Workiva in the first quarter worth $39,000. Bayforest Capital Ltd purchased a new stake in Workiva in the first quarter worth $39,000. Finally, Bessemer Group Inc. lifted its stake in Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after acquiring an additional 296 shares during the period. Institutional investors own 92.21% of the company's stock.

Workiva Trading Up 0.7%

Shares of Workiva stock opened at $83.95 on Thursday. The firm has a market capitalization of $4.70 billion, a P/E ratio of -69.96 and a beta of 0.88. The business has a fifty day simple moving average of $75.94 and a two-hundred day simple moving average of $72.95. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WK. Wolfe Research raised their price target on Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Wall Street Zen raised Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Raymond James Financial dropped their price target on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Robert W. Baird set a $105.00 price target on Workiva in a research note on Wednesday, June 25th. Finally, Citigroup raised their price target on Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Ten research analysts have rated the stock with a Buy rating, According to MarketBeat, Workiva 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.

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