Vancity Investment Management Ltd Acquires 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 its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,268 shares of the software maker's stock, valued at approximately $855,000.

Several other large investors have also bought and sold shares of WK. Vanguard Group Inc. raised its position 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. raised its position 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 raised its position 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 bought a new position in shares of Workiva during the first quarter worth about $64,903,000. Finally, Alliancebernstein L.P. raised its position in shares of Workiva by 1,177.5% during the first quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock worth $59,220,000 after acquiring an additional 719,062 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Price Performance

NYSE WK traded down $0.89 during midday trading on Friday, hitting $77.55. 644,969 shares of the company traded hands, compared to its average volume of 702,319. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The company's 50-day simple moving average is $73.76 and its 200-day simple moving average is $73.35. The company has a market cap of $4.34 billion, a PE ratio of -64.62 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last issued its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. The business's revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business earned $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. On average, research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

WK has been the subject of a number of research analyst reports. Robert W. Baird set a $105.00 target price on Workiva in a report on Wednesday, June 25th. Citigroup boosted their price objective on Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial lowered their price target on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Finally, Stephens restated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, Workiva currently has an average rating of "Buy" and a consensus price target of $100.00.

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.