Arrowstreet Capital Limited Partnership Sells 127,524 Shares of Workiva Inc. $WK

Arrowstreet Capital Limited Partnership cut its holdings in Workiva Inc. (NYSE:WK) by 20.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 493,180 shares of the software maker’s stock after selling 127,524 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.88% of Workiva worth $33,758,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wealth Alliance LLC increased its position in shares of Workiva by 8.2% during the 2nd 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 last quarter. Atria Investments Inc boosted its stake 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 period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 valued at $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 worth about $26,000. Finally, Elevation Point Wealth Partners LLC lifted its stake 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 worth $315,000 after purchasing an additional 345 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Workiva in a research note on Wednesday, October 8th. Stephens lifted their target price on Workiva from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Capital One Financial set a $100.00 target price on shares of Workiva in a research note on Tuesday, September 30th. BMO Capital Markets lifted their price objective on shares of Workiva from $100.00 to $103.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Citigroup boosted their price objective on shares of Workiva from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Workiva Stock Up 0.1%

Shares of NYSE:WK opened at $92.28 on Friday. The firm has a 50 day moving average of $88.78 and a 200 day moving average of $78.13. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of -109.86 and a beta of 0.64. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83.

Workiva (NYSE:WK) last announced its earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.17. The company had revenue of $224.17 million for the quarter, compared to the consensus estimate of $218.96 million. During the same period last year, the business posted $0.21 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. 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, sell-side analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

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.