Edgestream Partners L.P. Invests $5.02 Million in Workiva Inc. $WK

Edgestream Partners L.P. purchased a new stake in shares of Workiva Inc. (NYSE:WK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 73,306 shares of the software maker’s stock, valued at approximately $5,018,000. Edgestream Partners L.P. owned 0.13% of Workiva as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in WK. Wealth Alliance LLC raised its position in Workiva by 8.2% in the second quarter. Wealth Alliance LLC now owns 3,122 shares of the software maker’s stock valued at $214,000 after purchasing an additional 236 shares during the period. Atria Investments Inc increased its position in shares of Workiva by 6.8% during the 2nd quarter. Atria Investments Inc now owns 4,629 shares of the software maker’s stock worth $317,000 after purchasing an additional 293 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Workiva by 14.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,453 shares of the software maker’s stock worth $168,000 after purchasing an additional 304 shares during the last quarter. SVB Wealth LLC purchased a new stake in Workiva in the 1st quarter valued at about $26,000. Finally, Elevation Point Wealth Partners LLC lifted its position in Workiva by 8.1% in the second quarter. Elevation Point Wealth Partners LLC now owns 4,608 shares of the software maker’s stock valued at $315,000 after buying an additional 345 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Trading Up 0.1%

Shares of NYSE WK opened at $90.78 on Wednesday. The stock has a market cap of $5.10 billion, a P/E ratio of -108.07 and a beta of 0.64. The business’s fifty day simple moving average is $88.32 and its 200-day simple moving average is $77.77. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83.

Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.17. The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $218.96 million. Workiva’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. 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, equities analysts forecast that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WK has been the subject of a number of recent analyst reports. Capital One Financial set a $100.00 price target on shares of Workiva in a research report on Tuesday, September 30th. Stephens boosted their target price on Workiva from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. BMO Capital Markets upped their price target on Workiva from $100.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. UBS Group set a $110.00 price objective on Workiva in a research note on Sunday, November 9th. Finally, Wolfe Research boosted their price objective on Workiva from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.00.

About Workiva

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.