Walleye Capital LLC Decreases Holdings in Workiva Inc. $WK

Key Points

• Walleye Capital LLC reduced its stake in Workiva Inc. by 23.5%, now owning 44,739 shares valued at approximately $3.4 million.
• Several institutional investors have increased their holdings in Workiva, with Bessemer Group Inc. boosting its stake by 109.2% during the same quarter.
• Workiva's recent quarterly earnings exceeded analyst expectations, reporting a 21.2% year-over-year revenue increase of $215.19 million and an EPS of $0.19.

Walleye Capital LLC lessened its holdings in Workiva Inc. (NYSE:WK - Free Report) by 23.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,739 shares of the software maker's stock after selling 13,765 shares during the quarter. Walleye Capital LLC owned approximately 0.08% of Workiva worth $3,396,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WK. T. Rowe Price Investment Management Inc. increased its holdings 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 buying an additional 686,702 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Workiva in the fourth quarter valued at $32,863,000. Engle Capital Management L.P. acquired a new stake in shares of Workiva during the fourth quarter worth about $20,367,000. LMR Partners LLP acquired a new stake in shares of Workiva during the fourth quarter worth about $16,151,000. Finally, Vanguard Group Inc. increased its position in shares of Workiva by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,942,371 shares of the software maker's stock worth $451,085,000 after purchasing an additional 142,297 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens reiterated an "overweight" rating and set a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd. Robert W. Baird set a $105.00 target price on Workiva in a research report on Wednesday, June 25th. Citigroup reiterated a "buy" rating and set a $105.00 target price (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Finally, Raymond James Financial cut 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. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Workiva has an average rating of "Buy" and a consensus target price of $99.22.

Workiva Stock Up 1.9%

WK stock traded up $1.56 during trading on Friday, hitting $82.31. The company had a trading volume of 651,554 shares, compared to its average volume of 1,003,756. The firm has a market cap of $4.61 billion, a PE ratio of -68.59 and a beta of 0.86. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The firm has a 50-day moving average price of $71.72 and a 200-day moving average price of $73.83.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. During the same quarter last year, the firm earned $0.16 EPS. The business's revenue 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. Sell-side analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current year.

Workiva Company 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.