Comerica Bank Increases Stake in Workiva Inc. $WK

Key Points

• Comerica Bank increased its holdings in Workiva Inc. by 17.0% during the first quarter, acquiring an additional 15,147 shares, bringing its total to 104,277 shares valued at approximately $7.9 million.
• Workiva stock is currently priced at $80.37 with a 52-week high of $116.83 and a market capitalization of $4.50 billion.
• Workiva reported earnings of $0.19 EPS for the most recent quarter, exceeding expectations of $0.05 EPS, alongside a revenue increase of 21.2% year-over-year.

Comerica Bank raised its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 17.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,277 shares of the software maker's stock after buying an additional 15,147 shares during the quarter. Comerica Bank owned about 0.19% of Workiva worth $7,916,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC bought a new position in shares of Workiva during the fourth quarter valued at $291,000. Boothbay Fund Management LLC bought a new stake in Workiva during the 4th quarter valued at about $465,000. Beacon Pointe Advisors LLC purchased a new position in Workiva in the fourth quarter worth about $219,000. Northern Trust Corp lifted its stake in shares of Workiva by 6.9% in the fourth quarter. Northern Trust Corp now owns 596,466 shares of the software maker's stock worth $65,313,000 after buying an additional 38,633 shares in the last quarter. Finally, Aequim Alternative Investments LP bought a new position in shares of Workiva in the fourth quarter worth approximately $2,431,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WK shares. Citigroup reissued a "buy" rating and set a $105.00 price target (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Stephens reiterated an "overweight" rating and set a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Stifel Nicolaus cut their target price on Workiva from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. 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 note on Friday, August 1st. Finally, Robert W. Baird set a $105.00 target price on Workiva in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $99.22.

Workiva Stock Performance

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

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. During the same period in the previous 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. On average, analysts forecast that Workiva Inc. will post -0.92 EPS 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.