Edgestream Partners L.P. Purchases Shares of 73,306 Workiva Inc. $WK

Edgestream Partners L.P. purchased a new position in shares of Workiva Inc. (NYSE:WK) in the second quarter, Holdings Channel.com reports. The firm purchased 73,306 shares of the software maker’s stock, valued at approximately $5,018,000.

A number of other hedge funds have also made changes to their positions in WK. SVB Wealth LLC purchased a new stake in Workiva during the first quarter worth approximately $26,000. Harbour Investments Inc. acquired a new stake in Workiva during the first quarter worth approximately $39,000. Bayforest Capital Ltd purchased a new stake in shares of Workiva during the 1st quarter worth approximately $39,000. TD Waterhouse Canada Inc. purchased a new position in shares of Workiva in the 2nd quarter valued at $51,000. Finally, Hilltop National Bank purchased a new position in shares of Workiva in the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Trading Up 0.1%

Workiva stock opened at $90.78 on Wednesday. The stock has a 50 day moving average of $88.32 and a two-hundred day moving average of $77.77. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -108.07 and a beta of 0.64.

Workiva (NYSE:WK) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 EPS 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. During the same quarter last year, the company earned $0.21 EPS. Workiva’s revenue for the quarter 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. Equities analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WK has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Workiva from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 7th. UBS Group set a $110.00 target price on Workiva in a report on Sunday, November 9th. BMO Capital Markets raised 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. The Goldman Sachs Group reaffirmed a “buy” rating and set a $110.00 price target on shares of Workiva in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Workiva in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Workiva presently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

Workiva 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.