Workiva Inc. $WK Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Workiva Inc. by 0.6%, now owning approximately 1.06% of the company, worth about $44.99 million.
• Several institutional investors, including Vanguard Group and Point72 Asset Management, have recently increased their holdings, contributing to institutional ownership standing at 92.21% of Workiva's stock.
• Analysts have upgraded Workiva to a "buy" rating, with a consensus price target of $99.22 and strong earnings performance reported for the last quarter, exceeding expectations.

Northern Trust Corp trimmed its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,637 shares of the software maker's stock after selling 3,829 shares during the quarter. Northern Trust Corp owned 1.06% of Workiva worth $44,987,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WK. MGO One Seven LLC purchased a new position in Workiva in the fourth quarter valued at about $291,000. Boothbay Fund Management LLC purchased a new position in Workiva in the fourth quarter valued at about $465,000. Beacon Pointe Advisors LLC purchased a new position in Workiva in the fourth quarter valued at about $219,000. Aequim Alternative Investments LP purchased a new position in Workiva in the fourth quarter valued at about $2,431,000. Finally, Aristeia Capital L.L.C. purchased a new position in Workiva in the fourth quarter valued at about $8,957,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on WK. Raymond James Financial dropped their target price on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Citigroup reaffirmed a "buy" rating and issued a $105.00 target price (down from $108.00) on shares of Workiva in a report on Wednesday, July 16th. Stephens reaffirmed an "overweight" rating and issued a $95.00 target price on shares of Workiva in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird set a $105.00 price target on shares of Workiva in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently 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 trading hours on Tuesday, hitting $77.31. The company's stock had a trading volume of 1,608,443 shares, compared to its average volume of 761,462. The business has a fifty day moving average of $72.24 and a 200-day moving average of $73.68. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -64.43 and a beta of 0.88. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. The business had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior 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. On average, equities analysts expect that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Workiva 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.