Trust Point Inc. Has $470,000 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. lessened its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 38.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in Workiva in the first quarter valued at $26,000. Farther Finance Advisors LLC lifted its stake in Workiva by 705.9% during the first 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 stake in shares of Workiva in the 1st quarter valued at approximately $39,000. Harbour Investments Inc. bought a new stake in shares of Workiva during the 1st quarter worth $39,000. Finally, Bessemer Group Inc. lifted its position 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 purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analyst Weigh In

WK has been the subject of a number of research analyst reports. Citigroup lifted their price target on Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wolfe Research increased their target price on shares of Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Robert W. Baird set a $105.00 target price on Workiva in a research report on Wednesday, June 25th. Finally, Raymond James Financial decreased their price target on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $100.00.

Workiva Price Performance

Shares of WK traded up $0.99 during mid-day trading on Tuesday, hitting $83.75. The stock had a trading volume of 99,825 shares, compared to its average volume of 704,874. The business has a fifty day moving average price of $75.25 and a 200-day moving average price of $72.80. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The firm has a market cap of $4.69 billion, a P/E ratio of -69.89 and a beta of 0.87.

Workiva (NYSE:WK - Get Free Report) last posted its earnings results 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 the consensus estimate of $208.92 million. During the same period in the previous year, the business posted $0.16 EPS. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. 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, research analysts expect that Workiva Inc. will post -0.92 earnings per share for the current fiscal 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.