Workiva (NYSE:WK) Shares Gap Up - Here's What Happened

Key Points

• Workiva shares opened sharply higher, rising from the prior close of $72.64 to $78.13 before last trading around $76.59.
• Analyst sentiment remains broadly positive, with nine Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with an average price target of $87.
• Workiva exceeded quarterly expectations, reporting $0.77 in earnings per share versus the $0.64 estimate and $255.29 million in revenue, up 18.6% year over year.

Workiva Inc. (NYSE:WK - Get Free Report)'s stock price gapped up prior to trading on Friday. The stock had previously closed at $72.64, but opened at $78.13. Workiva shares last traded at $76.5860, with a volume of 25,833 shares trading hands.

Analyst Upgrades and Downgrades

WK has been the topic of several research reports. Zacks Research lowered shares of Workiva from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Weiss Ratings raised Workiva from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Workiva from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 10th. Stifel Nicolaus set a $95.00 target price on shares of Workiva in a report on Thursday, August 27th. Finally, Citigroup reiterated a "buy" rating on shares of Workiva in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Workiva has a consensus rating of "Moderate Buy" and an average price target of $87.00.

Workiva Stock Down 1.5%

The firm has a market capitalization of $4.27 billion, a PE ratio of 92.98 and a beta of 0.53. The business has a 50-day moving average price of $72.68 and a 200-day moving average price of $59.80.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The firm had revenue of $255.29 million during the quarter, compared to analysts' expectations of $251.16 million. Workiva had a net margin of 4.87% and a negative return on equity of 140.17%. The firm's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. Workiva has set its FY 2026 guidance at 3.380-3.390 EPS and its Q3 2026 guidance at 0.790-0.820 EPS. On average, equities research analysts anticipate that Workiva Inc. will post 1.31 earnings per share for the current year.

Insider Activity at Workiva

In other news, EVP Brandon Ziegler sold 6,571 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $75.97, for a total value of $499,198.87. Following the completion of the transaction, the executive vice president owned 126,216 shares of the company's stock, valued at $9,588,629.52. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.77% of the stock is owned by corporate insiders.

Institutional Trading of Workiva

Several hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of Workiva by 154.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 243,991 shares of the software maker's stock valued at $16,242,000 after purchasing an additional 147,917 shares during the period. State of Alaska Department of Revenue increased its holdings in Workiva by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,423 shares of the software maker's stock valued at $161,000 after buying an additional 164 shares during the period. Foster Group Inc. acquired a new stake in shares of Workiva in the third quarter valued at $206,000. Compass Financial Group INC SD acquired a new position in shares of Workiva in the 3rd quarter valued at $241,000. Finally, GAMMA Investing LLC raised its stake in Workiva by 91.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,901 shares of the software maker's stock worth $193,000 after buying an additional 1,385 shares during the period. Institutional investors own 92.21% of the company's stock.

Workiva Company Profile

Workiva Inc is a cloud-based software company that helps organizations manage complex reporting, compliance and operational processes. Its platform connects data from multiple sources, enabling users to prepare, review and distribute financial reports, regulatory filings, management reports and other business documents through a collaborative digital environment.

The company's products support financial reporting, environmental, social and governance (ESG) reporting, risk management, internal controls, audit management and regulatory compliance.

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