Hsbc Holdings PLC Grows Stock Holdings in Workiva Inc. $WK

Key Points

• Hsbc Holdings PLC increased its stake in Workiva Inc. by 33.9% during the first quarter, bringing its total holdings to 25,977 shares valued at approximately $1.96 million.
• Workiva Inc. reported an EPS of $0.19 for the last quarter, exceeding estimates, and its revenue grew by 21.2% year-over-year, totaling $215.19 million.
• Analysts have set a consensus price target of $99.22 for Workiva shares, with ratings indicating strong buy sentiment among several research firms.

Hsbc Holdings PLC lifted its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 33.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,977 shares of the software maker's stock after acquiring an additional 6,580 shares during the period. Hsbc Holdings PLC's holdings in Workiva were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WK. Farther Finance Advisors LLC lifted its holdings in shares of Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Workiva during the 1st quarter worth $39,000. Harbour Investments Inc. bought a new stake in Workiva in the first quarter worth $39,000. Bessemer Group Inc. lifted its stake in Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Finally, Global Wealth Strategies & Associates bought a new stake in Workiva in the first quarter worth $53,000. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WK has been the subject of several recent research reports. Robert W. Baird set a $105.00 price target on shares of Workiva in a research note on Wednesday, June 25th. Raymond James Financial lowered their price target on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Citigroup reissued a "buy" rating and issued a $105.00 price target (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Stephens reissued an "overweight" rating and issued a $95.00 price target on shares of Workiva in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $99.22.

Workiva Trading Down 6.0%

Shares of WK stock traded down $4.93 during mid-day trading on Tuesday, reaching $77.31. The stock had a trading volume of 1,608,443 shares, compared to its average volume of 761,462. The stock's 50-day moving average price is $72.24 and its two-hundred day moving average price is $73.68. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The firm has a market capitalization of $4.33 billion, a PE ratio of -64.43 and a beta of 0.88.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to analysts' expectations of $208.92 million. During the same quarter in the previous year, the firm posted $0.16 EPS. Workiva's revenue 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 research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

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.