Woodline Partners LP Acquires 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 position in shares of 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 approximately 0.54% of Workiva worth $22,812,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Workiva by 8.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker's stock valued at $214,000 after buying an additional 225 shares in the last quarter. Xponance Inc. raised its position in shares of Workiva by 6.7% in the first quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock valued at $292,000 after buying an additional 241 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Workiva by 109.2% in 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 in the last quarter. SVB Wealth LLC acquired a new stake in shares of Workiva in the first quarter valued at approximately $26,000. Finally, Farther Finance Advisors LLC raised its position in shares of Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after buying an additional 360 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Workiva Price Performance

Shares of Workiva stock traded down $0.89 during trading on Friday, hitting $77.55. The company's stock had a trading volume of 644,989 shares, compared to its average volume of 718,362. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -64.62 and a beta of 0.88. The stock has a 50-day moving average price of $73.92 and a two-hundred day moving average price of $73.31.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. During the same period in the prior year, the firm earned $0.16 EPS. The business's revenue for the quarter 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. On average, equities analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WK has been the subject of a number of analyst reports. Citigroup lifted their price target on shares of Workiva from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen upgraded shares of Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stephens reiterated an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. Stifel Nicolaus lifted their price target on shares of Workiva from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wolfe Research lifted their price target on shares of Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, According to MarketBeat, Workiva currently has an average rating of "Buy" and an average 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.