Workiva Inc. (NYSE:WK) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Workiva Inc. (NYSE:WK) by 13.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,734 shares of the software maker’s stock after buying an additional 1,066 shares during the quarter. Teacher Retirement System of Texas’ holdings in Workiva were worth $663,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WK. Twin Tree Management LP purchased a new position in shares of Workiva in the 4th quarter valued at $25,000. Farther Finance Advisors LLC boosted its stake in Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after acquiring an additional 360 shares in the last quarter. Bessemer Group Inc. boosted its stake in Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Workiva during the fourth quarter worth about $66,000. Finally, GeoWealth Management LLC increased its position in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after purchasing an additional 602 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Stock Up 0.9%

NYSE:WK opened at $67.48 on Wednesday. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The stock has a fifty day simple moving average of $68.23 and a 200-day simple moving average of $80.97. The company has a market capitalization of $3.76 billion, a PE ratio of -57.68 and a beta of 0.86.

Workiva (NYSE:WK) last posted its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analysts’ expectations of $204.24 million. Workiva’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. As a group, equities analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WK. Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Stifel Nicolaus decreased their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Stephens restated an “overweight” rating and issued a $95.00 price target on shares of Workiva in a research report on Thursday, May 22nd. BNP Paribas began coverage on Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective for the company. Finally, The Goldman Sachs Group lowered their target price on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.80.

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.