TD Asset Management Inc Has $2.83 Million Stock Position in Workiva Inc. $WK

Key Points

• TD Asset Management Inc reduced its stake in Workiva Inc. by 10.0% in Q2, now holding a total of 41,354 shares valued at approximately $2.83 million.
• Multiple institutional investors have increased their positions, contributing to 92.21% of Workiva's stock being owned by institutions.
• Workiva reported a strong Q2 with earnings of $0.19 EPS and a revenue increase of 21.2% from the previous year, surpassing analyst expectations.

TD Asset Management Inc lowered its position in Workiva Inc. (NYSE:WK - Free Report) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,354 shares of the software maker's stock after selling 4,620 shares during the quarter. TD Asset Management Inc owned 0.07% of Workiva worth $2,831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of Workiva in the first quarter valued at $26,000. Farther Finance Advisors LLC raised its stake in shares of Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after buying an additional 360 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Workiva during the 1st quarter worth about $39,000. Harbour Investments Inc. acquired a new stake in shares of Workiva during the 1st quarter valued at about $39,000. Finally, Bessemer Group Inc. boosted its position in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on WK shares. Capital One Financial set a $100.00 price target on shares of Workiva in a research note on Tuesday, September 30th. Stifel Nicolaus raised their target price on Workiva from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Citigroup upped their price target on Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. BMO Capital Markets increased their price objective on Workiva from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Finally, Wolfe Research boosted their target price on shares of Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Workiva currently has a consensus rating of "Moderate Buy" and an average price target of $99.27.

Workiva Price Performance

NYSE WK opened at $89.39 on Tuesday. The stock's 50 day simple moving average is $81.62 and its 200 day simple moving average is $73.35. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The firm has a market cap of $5.01 billion, a PE ratio of -74.49 and a beta of 0.87.

Workiva (NYSE:WK - Get Free Report) last posted 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 business had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. Workiva's revenue for the quarter 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, equities analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

About Workiva

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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