Summit Creek Advisors LLC Sells 27,298 Shares of Workiva Inc. $WK

Key Points

• Summit Creek Advisors cut its Workiva stake by 33.8% in the third quarter, selling 27,298 shares and ending the period with 53,419 shares valued at about $3.56 million.
• Workiva’s third-quarter revenue rose 17.3% year over year to $262.96 million, slightly beating estimates, while EPS of $0.72 missed the $0.80 consensus.
• Guidance fell short of analyst expectations: the company’s Q4 and full-year EPS outlooks were below consensus, despite a majority of analysts maintaining Buy ratings and an $87 average price target.

Summit Creek Advisors LLC lowered its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 33.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,419 shares of the software maker's stock after selling 27,298 shares during the quarter. Summit Creek Advisors LLC owned about 0.10% of Workiva worth $3,556,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WK. Ashton Thomas Private Wealth LLC bought a new position in shares of Workiva in the third quarter valued at approximately $327,000. Alamar Capital Management LLC boosted its holdings in shares of Workiva by 44.7% during the 3rd quarter. Alamar Capital Management LLC now owns 46,005 shares of the software maker's stock worth $3,063,000 after buying an additional 14,220 shares during the period. Covestor Ltd boosted its holdings in shares of Workiva by 171.8% during the 3rd quarter. Covestor Ltd now owns 666 shares of the software maker's stock worth $44,000 after buying an additional 421 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Workiva in the 3rd quarter valued at $535,000. Finally, Vise Technologies Inc. acquired a new position in Workiva in the 3rd quarter valued at $232,000. Institutional investors own 92.21% of the company's stock.

Trending Headlines about Workiva

Here are the key news stories impacting Workiva this week:

• Positive Sentiment: Third-quarter revenue rose 17.3% year over year to $262.96 million, topping analysts’ $261.37 million estimate. Quarterly results
• Neutral Sentiment: Coverage highlighted Workiva’s AI expansion, while noting moderating business tailwinds; the available reports do not quantify the potential financial contribution from AI. Q3 deep dive
• Negative Sentiment: Q3 EPS was $0.72, below the roughly $0.79–$0.80 consensus, despite increasing from $0.55 a year earlier. The earnings shortfall is a likely drag on sentiment. Q3 earnings miss
• Negative Sentiment: Workiva’s Q4 EPS outlook of $0.78–$0.80 is below the $0.92 consensus, and its $275 million–$278 million revenue range is just shy of the $278.1 million estimate. Full-year EPS guidance of $2.80–$2.83 also trails the $2.95 consensus, putting the outlook at the center of investor concern. Why shares are falling

Workiva Price Performance

NYSE:WK opened at $72.83 on Friday. The stock has a market cap of $4.09 billion, a P/E ratio of 65.03 and a beta of 0.46. Workiva Inc. has a one year low of $43.34 and a one year high of $95.00. The company has a fifty day moving average price of $75.83 and a 200 day moving average price of $63.07.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.08). The company had revenue of $262.96 million during the quarter, compared to the consensus estimate of $261.37 million. Workiva had a net margin of 6.31% and a negative return on equity of 159.20%. Workiva's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts anticipate that Workiva Inc. will post 1.31 EPS for the current year.

Insider Buying and Selling at Workiva

In related news, EVP Brandon Ziegler sold 6,571 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $75.97, for a total value of $499,198.87. Following the completion of the sale, the executive vice president owned 126,216 shares in the company, valued at approximately $9,588,629.52. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on WK. Zacks Research downgraded shares of Workiva from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Robert W. Baird upped their price target on shares of Workiva from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Weiss Ratings cut shares of Workiva from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. BTIG Research set a $85.00 price target on Workiva in a research report on Wednesday, September 16th. Finally, Stifel Nicolaus set a $95.00 price objective on Workiva in a research note on Thursday, August 27th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $87.00.

Workiva Profile

Workiva Inc NYSE: WK provides cloud-based software designed to help organizations manage reporting, compliance, risk and other complex business processes. Its platform connects financial, operational and environmental, social and governance (ESG) data so teams can collaborate on information used for internal and external reporting.

The company's products support financial reporting, regulatory filings, audit and compliance workflows, investor communications, and sustainability reporting.

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