Workiva Inc. $WK Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Workiva Inc. by 32% in the first quarter, now holding approximately 5.05% of the company's shares, valued at around $215 million.
• The company reported $0.19 EPS for the last quarter, exceeding analyst expectations, and forecasted a FY 2025 guidance of $1.310 to $1.380 EPS.
• Multiple analysts have maintained a buy rating on Workiva, with a consensus price target of $99.22, reflecting positive sentiment despite some target price revisions.

T. Rowe Price Investment Management Inc. boosted its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 32.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,834,723 shares of the software maker's stock after purchasing an additional 686,702 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 5.05% of Workiva worth $215,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its position in Workiva by 8.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker's stock worth $214,000 after acquiring an additional 225 shares during the last quarter. Xponance Inc. lifted its stake in shares of Workiva by 6.7% during the 1st quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock worth $292,000 after purchasing an additional 241 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Workiva by 705.9% during the first 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. Finally, Janney Montgomery Scott LLC grew its position in shares of Workiva by 1.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,596 shares of the software maker's stock valued at $1,488,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Price Performance

NYSE WK traded up $0.70 during trading hours on Tuesday, hitting $79.27. The company had a trading volume of 99,528 shares, compared to its average volume of 691,851. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -66.07 and a beta of 0.86. The firm's 50 day moving average is $70.58 and its 200 day moving average is $74.06.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The company had revenue of $215.19 million for the quarter, compared to analyst estimates of $208.92 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company's revenue for the quarter 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. On average, equities analysts anticipate that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WK shares. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Raymond James Financial cut their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Stifel Nicolaus lowered their target price on shares of Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and set a $105.00 price target (down previously from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Finally, Robert W. Baird set a $105.00 price objective on shares of Workiva in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, Workiva has a consensus rating of "Buy" and a consensus target price of $99.22.

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.