Trust Point Inc. Cuts Holdings in Workiva Inc. $WK

Key Points

• Trust Point Inc. reduced its stake in Workiva Inc. by 38.1% during Q2, selling 4,226 shares and retaining 6,871 shares worth approximately $470,000.
• Institutional investors dominate Workiva's stock ownership, holding about 92.21% of the company, with significant increases in positions from firms like Eminence Capital LP and T. Rowe Price Investment Management Inc. in Q1.
• Workiva's stock price opened at $79.60 with a market cap of $4.46 billion, and it reported earnings of $0.19 per share, exceeding analysts' expectations for the quarter.

Trust Point Inc. decreased its position in Workiva Inc. (NYSE:WK - Free Report) by 38.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,871 shares of the software maker's stock after selling 4,226 shares during the period. Trust Point Inc.'s holdings in Workiva were worth $470,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Citigroup increased their target price on Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Wolfe Research increased their target price on Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Finally, Raymond James Financial dropped their target price on Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $100.00.

Workiva Trading Down 1.2%

Shares of Workiva stock traded down $0.94 during trading on Friday, hitting $79.60. The stock had a trading volume of 1,335,193 shares, compared to its average volume of 751,967. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -66.33 and a beta of 0.88. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83. The business's 50-day moving average is $74.94 and its 200 day moving average is $72.92.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. The company's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company 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 EPS 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.