Connor Clark & Lunn Investment Management Ltd. Acquires 7,789 Shares of Workiva Inc. $WK

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Workiva Inc. (NYSE:WK) by 5.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 138,881 shares of the software maker’s stock after acquiring an additional 7,789 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Workiva were worth $9,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Workiva by 14.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,453 shares of the software maker’s stock valued at $168,000 after purchasing an additional 304 shares during the period. Savant Capital LLC lifted its position in shares of Workiva by 41.9% during the 2nd quarter. Savant Capital LLC now owns 3,997 shares of the software maker’s stock valued at $274,000 after buying an additional 1,180 shares in the last quarter. Summit Creek Advisors LLC grew its stake in shares of Workiva by 38.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 95,108 shares of the software maker’s stock valued at $6,510,000 after acquiring an additional 26,349 shares during the period. EFG Asset Management North America Corp. increased its holdings in Workiva by 24.1% in the 2nd quarter. EFG Asset Management North America Corp. now owns 35,196 shares of the software maker’s stock worth $2,410,000 after acquiring an additional 6,825 shares in the last quarter. Finally, Ceera Investments LLC purchased a new stake in Workiva in the 2nd quarter worth approximately $1,047,000. 92.21% of the stock is owned by institutional investors.

Workiva Stock Up 4.7%

Shares of Workiva stock opened at $93.32 on Wednesday. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The business has a 50-day moving average price of $84.81 and a 200-day moving average price of $75.63. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -111.10 and a beta of 0.87.

Workiva (NYSE:WK) last posted its earnings results on Wednesday, November 5th. The software maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The firm had revenue of $224.17 million during the quarter, compared to analysts’ expectations of $218.96 million. Workiva’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Workiva has set its FY 2025 guidance at 1.650-1.68 EPS. Q4 2025 guidance at 0.670-0.700 EPS. On average, equities analysts expect that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

WK has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Workiva in a research report on Wednesday, October 8th. Stifel Nicolaus set a $98.00 target price on shares of Workiva in a research note on Thursday, November 6th. Truist Financial upped their target price on shares of Workiva from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 7th. UBS Group set a $110.00 price target on Workiva in a report on Sunday. Finally, Wolfe Research boosted their price objective on Workiva from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.00.

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.