Nicholas Company Inc. Grows Position in Workiva Inc. $WK

Nicholas Company Inc. increased its position in shares of Workiva Inc. (NYSE:WK) by 9.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,881 shares of the software maker’s stock after buying an additional 6,850 shares during the period. Nicholas Company Inc.’s holdings in Workiva were worth $5,536,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Workiva by 8.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker’s stock worth $214,000 after buying an additional 225 shares during the period. Xponance Inc. increased its stake in shares of Workiva by 6.7% during the first quarter. Xponance Inc. now owns 3,850 shares of the software maker’s stock worth $292,000 after buying an additional 241 shares during the period. Atria Investments Inc increased its stake in shares of Workiva by 6.8% during the second quarter. Atria Investments Inc now owns 4,629 shares of the software maker’s stock worth $317,000 after buying an additional 293 shares during the period. Bessemer Group Inc. increased its stake in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock worth $43,000 after buying an additional 296 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Workiva during the first quarter worth approximately $26,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WK has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Workiva from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Workiva in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Stifel Nicolaus increased their price target on shares of Workiva from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Wolfe Research increased their price target on shares of Workiva from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.27.

Workiva Stock Down 1.7%

Shares of Workiva stock opened at $85.08 on Friday. The firm has a market capitalization of $4.77 billion, a P/E ratio of -70.90 and a beta of 0.87. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The firm’s 50 day moving average is $83.86 and its two-hundred day moving average is $74.72.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $215.19 million during the quarter, compared to analysts’ expectations of $208.92 million. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, research analysts expect that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

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.