Vancity Investment Management Ltd Buys Shares of 11,268 Workiva Inc. $WK

Key Points

• Vancity Investment Management Ltd acquired a new stake in Workiva Inc., purchasing 11,268 shares valued at approximately $855,000 in the first quarter of the year.
• Workiva reported a profit of $0.19 per share for the last quarter, exceeding analysts' expectations of $0.05, along with a revenue increase of 21.2% compared to the previous year.
• Despite recent price target reductions from various analysts, Workiva maintains a consensus rating of "Buy" with an average target price of $99.22.

Vancity Investment Management Ltd acquired a new stake in Workiva Inc. (NYSE:WK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,268 shares of the software maker's stock, valued at approximately $855,000.

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

Workiva Stock Down 1.1%

Shares of Workiva stock traded down $0.89 during trading on Friday, reaching $77.55. 644,989 shares of the stock were exchanged, compared to its average volume of 718,362. The stock's fifty day moving average is $73.92 and its 200 day moving average is $73.31. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of -64.62 and a beta of 0.88. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83.

Workiva (NYSE:WK - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million for the quarter, compared to analysts' expectations of $208.92 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business'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. Equities analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WK. Raymond James Financial reduced their price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Wolfe Research raised their price objective on Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday. Stephens reaffirmed an "overweight" rating and set a $95.00 price objective on shares of Workiva in a research note on Thursday, May 22nd. Wall Street Zen raised Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus raised their price objective on Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $100.00.

Workiva 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.