Woodline Partners LP Buys 291,894 Shares of Workiva Inc. $WK

Key Points

• Woodline Partners LP significantly increased its stake in Workiva Inc. by 3,386.6%, now owning 300,513 shares valued at approximately $22.81 million.
• Workiva reported $0.19 EPS for the last quarter, exceeding expectations and demonstrating a revenue increase of 21.2% year-over-year.
• Analysts have rated Workiva with a consensus of “Buy” and an average price target of $99.22, despite recent reductions in projections from some firms.

Woodline Partners LP raised its stake in Workiva Inc. (NYSE:WK - Free Report) by 3,386.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,513 shares of the software maker's stock after acquiring an additional 291,894 shares during the period. Woodline Partners LP owned 0.54% of Workiva worth $22,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake 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 acquiring an additional 142,297 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Workiva by 32.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker's stock worth $215,184,000 after buying an additional 686,702 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Workiva by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker's stock worth $89,511,000 after buying an additional 14,160 shares in the last quarter. Eminence Capital LP bought a new position in Workiva in the 1st quarter worth approximately $64,903,000. Finally, Alliancebernstein L.P. grew its holdings in Workiva by 1,177.5% in the 1st quarter. Alliancebernstein L.P. now owns 780,130 shares of the software maker's stock worth $59,220,000 after buying an additional 719,062 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Trading Up 1.3%

Workiva stock traded up $1.03 during mid-day trading on Monday, hitting $78.51. 131,567 shares of the company's stock were exchanged, compared to its average volume of 698,984. The stock has a market cap of $4.40 billion, a P/E ratio of -65.30 and a beta of 0.87. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The stock has a 50 day moving average of $73.92 and a two-hundred day moving average of $73.09.

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 the consensus estimate of $0.05 by $0.14. The business had revenue of $215.19 million for the quarter, compared to analyst estimates of $208.92 million. The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. 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 predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WK has been the subject of a number of recent analyst reports. Citigroup increased their price objective on Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday. Stephens reissued an "overweight" rating and issued a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd. Wolfe Research increased their price objective on Workiva from $85.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Robert W. Baird set a $105.00 price objective on Workiva in a report on Wednesday, June 25th. Finally, Stifel Nicolaus upped their target price on Workiva from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price 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.