Geode Capital Management LLC Raises Holdings in Workiva Inc. $WK

Geode Capital Management LLC boosted its stake in Workiva Inc. (NYSE:WK) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,207,108 shares of the software maker’s stock after purchasing an additional 4,056 shares during the period. Geode Capital Management LLC owned about 2.17% of Workiva worth $82,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WK. SVB Wealth LLC bought a new position in shares of Workiva in the first quarter worth approximately $26,000. Harbour Investments Inc. bought a new stake in Workiva during the 1st quarter valued at $39,000. Bayforest Capital Ltd purchased a new stake in Workiva during the 1st quarter valued at $39,000. Hilltop National Bank bought a new stake in Workiva in the 2nd quarter worth $66,000. Finally, AlphaQuest LLC purchased a new position in shares of Workiva in the first quarter valued at about $163,000. Institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

Workiva stock opened at $90.44 on Friday. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The stock’s 50 day simple moving average is $86.77 and its two-hundred day simple moving average is $76.67. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -107.67 and a beta of 0.87.

Workiva (NYSE:WK) last released its earnings results on Wednesday, November 5th. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. The firm had revenue of $224.17 million during the quarter, compared to analysts’ expectations of $218.96 million. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. Workiva has set its FY 2025 guidance at 1.650-1.68 EPS. Q4 2025 guidance at 0.670-0.700 EPS. On average, analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Workiva from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Stephens upped their price target on Workiva from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Capital One Financial set a $100.00 price objective on Workiva in a report on Tuesday, September 30th. BMO Capital Markets boosted their target price on Workiva from $100.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, UBS Group set a $110.00 target price on Workiva in a report on Sunday, November 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Workiva presently has an average rating of “Moderate Buy” and a consensus price target 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.