T. Rowe Price Investment Management Inc. Has $215.18 Million Stake in Workiva Inc. $WK

T. Rowe Price Investment Management Inc. boosted its holdings in Workiva Inc. (NYSE:WK) by 32.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,834,723 shares of the software maker’s stock after acquiring an additional 686,702 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.05% of Workiva worth $215,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 142,297 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Workiva by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 1,179,179 shares of the software maker’s stock worth $89,511,000 after purchasing an additional 14,160 shares during the period. Northern Trust Corp increased its holdings in Workiva by 6.9% in the fourth quarter. Northern Trust Corp now owns 596,466 shares of the software maker’s stock valued at $65,313,000 after purchasing an additional 38,633 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Workiva by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 588,428 shares of the software maker’s stock valued at $64,433,000 after buying an additional 1,909 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Workiva by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 430,462 shares of the software maker’s stock worth $32,676,000 after buying an additional 3,057 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WK. Robert W. Baird set a $105.00 price target on Workiva in a research note on Wednesday, June 25th. Stephens reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Citigroup reiterated 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. Raymond James Financial decreased their price target 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. Finally, Stifel Nicolaus dropped their price objective on Workiva from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $99.22.

Workiva Stock Performance

Shares of WK opened at $76.4230 on Thursday. The firm has a market cap of $4.28 billion, a P/E ratio of -63.69 and a beta of 0.86. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The firm’s 50 day moving average price is $69.88 and its two-hundred day moving average price is $74.87.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The company 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 company earned $0.16 EPS. The firm’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, sell-side analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current fiscal 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.