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 lowered its stake in Workiva Inc. (NYSE:WK - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 592,637 shares of the software maker's stock after selling 3,829 shares during the quarter. Northern Trust Corp owned about 1.06% of Workiva worth $44,987,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WK. Point72 Asset Management L.P. acquired a new stake in shares of Workiva in the fourth quarter valued at about $32,863,000. Engle Capital Management L.P. acquired a new stake in Workiva during the 4th quarter valued at approximately $20,367,000. LMR Partners LLP acquired a new stake in Workiva during the 4th quarter valued at approximately $16,151,000. Vanguard Group Inc. grew its stake in Workiva by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 5,942,371 shares of the software maker's stock valued at $451,085,000 after purchasing an additional 142,297 shares in the last quarter. Finally, Aristeia Capital L.L.C. acquired a new stake in Workiva during the 4th quarter valued at approximately $8,957,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Workiva from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Stephens restated an "overweight" rating and set a $95.00 price objective on shares of Workiva in a research note on Thursday, May 22nd. Robert W. Baird set a $105.00 price objective on Workiva in a research note on Wednesday, June 25th. Raymond James Financial lowered their price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Finally, Stifel Nicolaus lowered their price objective on Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $99.22.

Workiva Stock Up 2.4%

NYSE:WK opened at $80.37 on Thursday. The business's 50 day moving average is $71.09 and its two-hundred day moving average is $74.14. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The company has a market cap of $4.50 billion, a PE ratio of -66.97 and a beta of 0.86.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.14. The firm had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. During the same period in the prior year, the business earned $0.16 EPS. The company's quarterly 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. As a group, sell-side analysts expect that Workiva Inc. will post -0.92 EPS 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.

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