Workiva (NYSE:WK) Issues Quarterly Earnings Results

Workiva (NYSE:WK) posted its quarterly earnings data on Thursday. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10, FiscalAI reports. The company had revenue of $238.94 million for the quarter, compared to analyst estimates of $235.13 million.

Workiva Stock Performance

Shares of NYSE:WK traded up $0.99 during mid-day trading on Thursday, hitting $59.13. The stock had a trading volume of 1,796,818 shares, compared to its average volume of 908,558. Workiva has a 12-month low of $56.06 and a 12-month high of $97.10. The company has a market cap of $3.32 billion, a PE ratio of -70.39 and a beta of 0.62. The company’s 50 day moving average is $80.59 and its 200-day moving average is $83.12.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $105.00 price objective on shares of Workiva in a research note on Wednesday, December 10th. UBS Group set a $110.00 price target on Workiva in a research report on Sunday, November 9th. The Goldman Sachs Group reissued a “buy” rating and set a $110.00 target price on shares of Workiva in a research report on Thursday, November 6th. Stifel Nicolaus set a $98.00 target price on Workiva in a research note on Thursday, November 6th. Finally, Stephens increased their price target on Workiva from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Institutional Investors Weigh In On Workiva

Several institutional investors and hedge funds have recently added to or reduced their stakes in WK. Millennium Management LLC raised its holdings in shares of Workiva by 44.5% in the first quarter. Millennium Management LLC now owns 237,746 shares of the software maker’s stock valued at $18,047,000 after buying an additional 73,266 shares during the last quarter. Empowered Funds LLC acquired a new position in Workiva during the 1st quarter worth approximately $421,000. Prudential Financial Inc. boosted its holdings in shares of Workiva by 66.7% in the 2nd quarter. Prudential Financial Inc. now owns 6,259 shares of the software maker’s stock valued at $428,000 after buying an additional 2,505 shares during the last quarter. Cerity Partners LLC boosted its position in Workiva by 24.8% during the second quarter. Cerity Partners LLC now owns 3,297 shares of the software maker’s stock worth $226,000 after purchasing an additional 656 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Workiva by 0.4% during the second quarter. California Public Employees Retirement System now owns 82,197 shares of the software maker’s stock worth $5,626,000 after purchasing an additional 342 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Workiva

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.