Eminence Capital LP Increases Stock Position in Workiva Inc. $WK

by · The Markets Daily

Eminence Capital LP increased its holdings in Workiva Inc. (NYSE:WK – Free Report) by 209.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,646,768 shares of the software maker’s stock after buying an additional 1,791,768 shares during the period. Workiva accounts for 2.2% of Eminence Capital LP’s investment portfolio, making the stock its 17th biggest position. Eminence Capital LP owned approximately 4.72% of Workiva worth $181,171,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Workiva by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,942,371 shares of the software maker’s stock worth $451,085,000 after acquiring an additional 142,297 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Workiva by 32.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,834,723 shares of the software maker’s stock valued at $215,184,000 after purchasing an additional 686,702 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Workiva during the 2nd quarter valued at $88,677,000. Geode Capital Management LLC lifted its holdings in Workiva by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,207,108 shares of the software maker’s stock worth $82,637,000 after purchasing an additional 4,056 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Workiva by 0.4% in the 2nd quarter. First Trust Advisors LP now owns 964,347 shares of the software maker’s stock worth $66,010,000 after purchasing an additional 3,673 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WK has been the topic of several analyst reports. Stephens upped their price target on Workiva from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Stifel Nicolaus set a $98.00 target price on shares of Workiva in a report on Thursday, November 6th. Citigroup increased their target price on shares of Workiva from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $110.00 price target on shares of Workiva in a report on Thursday, November 6th. Finally, Wolfe Research upped their price target on shares of Workiva from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.83.

Check Out Our Latest Research Report on Workiva

Workiva Price Performance

WK stock opened at $87.49 on Friday. The firm has a 50 day simple moving average of $89.06 and a two-hundred day simple moving average of $78.85. The stock has a market cap of $4.91 billion, a PE ratio of -104.15 and a beta of 0.64. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83.

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

Workiva Profile

(Free Report)

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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