Cwm LLC Purchases 1,754 Shares of Workiva Inc. (NYSE:WK)

Cwm LLC increased its stake in shares of Workiva Inc. (NYSE:WK) by 27.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,166 shares of the software maker’s stock after purchasing an additional 1,754 shares during the quarter. Cwm LLC’s holdings in Workiva were worth $620,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WK. Farther Finance Advisors LLC boosted its holdings in Workiva by 705.9% during the 1st 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 during the period. Bessemer Group Inc. raised its position in shares of Workiva by 109.2% in the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Global Wealth Strategies & Associates acquired a new position in Workiva during the 1st quarter valued at about $53,000. Johnson Financial Group Inc. acquired a new position in Workiva during the 4th quarter valued at about $66,000. Finally, GeoWealth Management LLC increased its position in Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after buying an additional 602 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WK. The Goldman Sachs Group cut their price objective on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. BNP Paribas began coverage on Workiva in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price target on the stock. Truist Financial decreased their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Stephens restated an “overweight” rating and issued a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus cut their price target on Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.30.

Workiva Stock Up 1.1%

WK opened at $67.80 on Thursday. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The business has a fifty day simple moving average of $67.86 and a 200-day simple moving average of $79.39. The firm has a market cap of $3.78 billion, a P/E ratio of -57.95 and a beta of 0.86.

Workiva (NYSE:WK) last released 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. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Sell-side analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

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.