Bessemer Group Inc. Increases Stock Holdings in Workiva Inc. (NYSE:WK)

Bessemer Group Inc. lifted its stake in shares of Workiva Inc. (NYSE:WK) by 109.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 567 shares of the software maker’s stock after acquiring an additional 296 shares during the period. Bessemer Group Inc.’s holdings in Workiva were worth $43,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Twin Tree Management LP purchased a new stake in shares of Workiva during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC raised its holdings in shares of Workiva by 705.9% during the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after buying an additional 360 shares during the period. Global Wealth Strategies & Associates purchased a new stake in shares of Workiva during the 1st quarter valued at about $53,000. Johnson Financial Group Inc. purchased a new stake in shares of Workiva during the 4th quarter valued at about $66,000. Finally, GeoWealth Management LLC raised its holdings in shares of Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after buying an additional 602 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WK. Stephens restated an “overweight” rating and set a $95.00 price objective on shares of Workiva in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Robert W. Baird set a $105.00 price objective on Workiva in a research note on Wednesday, June 25th. Raymond James Financial lowered their price objective on Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their price objective on Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.80.

Workiva Trading Up 2.0%

Shares of WK opened at $69.22 on Friday. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of -59.16 and a beta of 0.86. The stock has a 50 day moving average of $68.55 and a 200-day moving average of $83.28. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83.

Workiva (NYSE:WK) last issued its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. Workiva’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

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.