Workiva Inc. $WK Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Workiva Inc. by 2.5% during Q1, holding approximately 10.59% of the company with a total value of $451.09 million.
• Workiva reported earnings of $0.19 EPS for the quarter, exceeding estimates, with a revenue of $215.19 million, marking a year-over-year growth of 21.2%.
• The consensus rating for Workiva's stock is currently "Buy" with an average price target of $99.22, as indicated by multiple analysts.

Vanguard Group Inc. boosted its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,942,371 shares of the software maker's stock after purchasing an additional 142,297 shares during the period. Vanguard Group Inc. owned approximately 10.59% of Workiva worth $451,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Workiva in the fourth quarter valued at approximately $5,758,000. Summit Investment Advisors Inc. raised its holdings in shares of Workiva by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,284 shares of the software maker's stock worth $579,000 after purchasing an additional 260 shares during the period. XTX Topco Ltd acquired a new stake in shares of Workiva during the fourth quarter worth $690,000. Canada Pension Plan Investment Board increased its holdings in shares of Workiva by 3,338.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 44,700 shares of the software maker's stock worth $4,895,000 after acquiring an additional 43,400 shares during the period. Finally, GeoWealth Management LLC increased its holdings in shares of Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock worth $68,000 after acquiring an additional 602 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Workiva Price Performance

WK stock traded up $0.0330 during mid-day trading on Tuesday, reaching $76.8530. 354,788 shares of the company traded hands, compared to its average volume of 694,854. The company has a market capitalization of $4.30 billion, a P/E ratio of -64.04 and a beta of 0.86. The company has a fifty day moving average price of $69.54 and a 200-day moving average price of $74.84. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83.

Workiva (NYSE:WK - Get Free Report) last announced its earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The business had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. During the same quarter in the prior year, the company earned $0.16 EPS. Workiva's revenue was up 21.2% compared to the same quarter last year. 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, analysts forecast that Workiva Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BNP Paribas began coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 target price for the company. Stephens reaffirmed an "overweight" rating and set a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Citigroup reaffirmed a "buy" rating and issued a $105.00 target price (down previously from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Raymond James Financial reduced their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Workiva from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Nine 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 $99.22.

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.