Teacher Retirement System of Texas Boosts Stake in Workiva Inc. (NYSE:WK)

Teacher Retirement System of Texas raised its position in Workiva Inc. (NYSE:WK) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,734 shares of the software maker’s stock after purchasing an additional 1,066 shares during the quarter. Teacher Retirement System of Texas’ holdings in Workiva were worth $663,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WK. Twin Tree Management LP acquired a new stake in Workiva in the 4th quarter valued at $25,000. Farther Finance Advisors LLC grew its stake in shares of Workiva by 705.9% in the first 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 in the last quarter. Bessemer Group Inc. raised its holdings in shares of Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after buying an additional 296 shares during the period. Global Wealth Strategies & Associates acquired a new position in Workiva during the 1st quarter worth approximately $53,000. Finally, Johnson Financial Group Inc. purchased a new position in Workiva in the 4th quarter worth approximately $66,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Performance

Shares of WK stock opened at $67.48 on Wednesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -57.68 and a beta of 0.86. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The company’s 50-day simple moving average is $68.23 and its 200-day simple moving average is $80.97.

Workiva (NYSE:WK) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $206.28 million for the quarter, compared to the consensus estimate of $204.24 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, research analysts forecast that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WK. The Goldman Sachs Group dropped their price objective on shares of Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Truist Financial dropped their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus decreased their price objective on shares of Workiva from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Robert W. Baird set a $105.00 target price on Workiva in a research note on Wednesday, June 25th. Finally, Raymond James Financial cut their price target on Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and an average price target of $103.80.

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.