Riverbridge Partners LLC Reduces Stock Holdings in Workiva Inc. (NYSE:WK)

Riverbridge Partners LLC lessened its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,536,450 shares of the software maker's stock after selling 109,875 shares during the quarter. Workiva comprises 1.9% of Riverbridge Partners LLC's investment portfolio, making the stock its 16th largest position. Riverbridge Partners LLC owned about 2.74% of Workiva worth $116,632,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of WK. Allspring Global Investments Holdings LLC bought a new stake in shares of Workiva during the 4th quarter valued at about $5,210,000. Rhumbline Advisers lifted its position in Workiva by 2.2% in the 4th quarter. Rhumbline Advisers now owns 71,574 shares of the software maker's stock worth $7,837,000 after buying an additional 1,563 shares during the last quarter. Truist Financial Corp bought a new stake in Workiva in the 4th quarter worth approximately $211,000. Atria Wealth Solutions Inc. bought a new stake in Workiva in the 4th quarter worth approximately $237,000. Finally, Abacus Planning Group Inc. bought a new stake in Workiva in the 4th quarter worth approximately $222,000. Institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Stifel Nicolaus dropped their target price on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets dropped their target price on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Truist Financial dropped their target price on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, BNP Paribas assumed coverage on Workiva in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.30.

Workiva Trading Up 1.3%

Shares of NYSE:WK traded up $0.86 during trading on Monday, reaching $66.26. 381,671 shares of the company traded hands, compared to its average volume of 536,914. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -56.63 and a beta of 0.88. Workiva Inc. has a 52-week low of $59.74 and a 52-week high of $116.83. The business's fifty day moving average is $68.86 and its 200-day moving average is $85.32.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 EPS. On average, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal 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.