GSA Capital Partners LLP Acquires New Stake in Workiva Inc. (NYSE:WK)

GSA Capital Partners LLP bought a new position in Workiva Inc. (NYSE:WK) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,557 shares of the software maker’s stock, valued at approximately $877,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after acquiring an additional 296 shares during the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Workiva during the 1st quarter worth $53,000. Johnson Financial Group Inc. acquired a new position in shares of Workiva in the 4th quarter worth $66,000. Finally, GeoWealth Management LLC grew its holdings in shares of Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after acquiring an additional 602 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Workiva Price Performance

Shares of WK stock opened at $84.46 on Friday. The stock’s fifty day simple moving average is $67.81 and its 200 day simple moving average is $77.46. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -70.38 and a beta of 0.86.

Workiva (NYSE:WK) last issued its quarterly earnings data on Thursday, July 31st. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. During the same period in the prior year, the company posted $0.16 earnings per share. Workiva’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, research analysts anticipate that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Workiva from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group reduced their price objective on Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Robert W. Baird set a $105.00 price objective on Workiva in a research report on Wednesday, June 25th. BNP Paribas started coverage on shares of Workiva in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Raymond James Financial cut their target price on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Workiva currently has a consensus rating of “Buy” and an average price target of $98.80.

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.